I'm not sure I understand this point. 240.4(B) can not be applied to the transformer secondary. Wouldn't this limit the breaker to 250 Amp as charlie b noted?
As Steve noted, section 240 rules are for conductors and 450 rules are for transformers. They are two separate issues, but both must be considered when feeding a transformer.
Section 450 allows protection of the 75kVA transformer, by either primary protection alone, or primary and secondary protection. For primary alone, the protection cannot be more than 125% of the primary rated current, but is allowed to go up to the next standard size. In this case, the primary current is 90.2A, 125% of that is 112.7, the next standard size is 125A. So with a breaker not exceeding 125A on the primary, there is no limit how large the secondary breaker can be. It can be 400A, 500A, whatever.
For primary and secondary protection, the primary breaker can be not more than 250% of the primary rated current, which is 225.5A. 225A would be the largest allowed breaker, as you cannot go up to the next standard size on the primary in the primary-secondary protection case. The secondary breaker protection cannot be more than 125% of the secondary rated current, but is allowed to go up to the next standard size. So the rated secondary current is 208.2A x 1.25 = 260.2A, which can go up to 300A.
Regardless of whether you use primary only or primary-secondary transformer protection, the secondary conductors must be protected per 240.21(C). If the breaker is 250A, the conductors must be at least 250mcm, if the breaker is 300A, the conductors must be at least 350mcm.
If you used a 400A secondary breaker, on the primary only protection, the secondary conductors must be at least 600mcm, or with a 500A secondary breaker the conductors must be at least 900mcm, or more realistically, two sets of 250mcm.
Oddly enough, if the 75kVA transformer in the example was protected by a 225A primary breaker and a 300A secondary breaker in a breaker enclosure, with secondary conductors from the transformer to breaker, and another feeder from the breaker to a panel 30' away, the secondary conductors must be 350mcm, but the conductors from the breaker to panel can be 300mcm in accordance with 240.4(B).