Couple things here. We are talking about a dry-type transformer and the 170 kW is the calculated demand load on a panel connected to the secondary side. From reading manufacturer product installation sheets, it is clear that a 150 kVA transformer is designed and UL listed to carry a maximum continuous load of 150 kVA all day and all night as its insulation is rated to do so provided it is in a properly ventilated area. That is not to say that it can't be overloaded but everything I have found states that overloading a transformer is a) not a good idea and b) only good for a short amount of time before excessive damage is done to the transformer's insulation.
So here is my take. I agree with iwire and 110.3 (B) because it jives with what the manufacturer is saying it can do and what UL says it is listed to do. For the primary and secondary OCPD, you follow the transformer table and as long as your breakers are in line you are good to go. As far as overloading the transformer is concerned, I think it is code legal but not good design practice from an engineering standpoint because you are going to ruin the insulation. I also see a calculated load of 170 kW much more differently than an actual load of 170 kW. If it was an actual load of 170 kW I would put my foot down and say no-way. If it is a calculated load, then I am a lot more lenient because I know the actual load is probably 50 - 67% of the calculated load and all we are doing is loading up the transformer to run at a higher efficiency which is a good design practice.
Thoughts?