Can I be cheeky You can be as cheeky as you like! 
and ask whether you would prefer that child was just left out, or that the parent spoke to you and explained why, or that he was invited with a chat asking that you supervised him carefully?
With my DS it's not a bullying problem. It's a purely cannot contain excitement, he's not great socially and as a result isn't very popular outside of his small social group.
I've been invited to events before where I wasn't expecting an invite, and was very appreciative of it, every social activity is an opportunity to learn for him. He's a lovely child, takes joy in others happiness and with the right support we'll get there eventually.
I would always stay with him, lurking at the back and stepping in when needed and the other parents know this so they don't tend to ask me to stay as they know I will IYSWIM. I simply remove DS, if he doesn't calm down or won't engage I take him home. He usually does but not always.
I know all children get over excited at parties but I must stress DS is a whole other level of OH MY GOODNESS THERE IS A CLOWN AND HIS SHOES ARE RED AND HE MAY HAVE BALLOONS!
I don't like the idea that I'm removing a child from someones birthday party. I think it spoils the mood and I'd hate to think we were invited through sufferance and then spoilt the atmosphere. That's not fair on the birthday child or the parent who organised it all.
My son must learn to behave in a considerate manner towards others and not to shout and yell at every little thing that pleases him. We help him by taking him to clubs and events, explaining to the organiser the situation and if they are happy to work with us we go ahead. He has been asked to leave gymnastics. This was the right thing to do as the other children's enjoyment and learning was being spoilt. We simply explained why and found a club (karate) that had the capacity to work with us without it ruining the experience for everyone else.
Sorry that's so long but I just wanted to answer as best I could using my personal experience. I think my son is the best thing since sliced bread and love him so much I feel I could burst with it, for this reason I think I owe it to him to help him behave.