I posted the text below .. then recently found that the micro I was using at the time was operating at around 6.5V due to a client loading the incorrect regulator .. so it is likely entirely incorrect and I apologise for misleading anyone.
I am not aware of any issues with using 5V.
So THIS is all wrong
I had seen quotes from the data sheets saying the data pins are 5v tolerant, even quoted the passage.
I was wrong, do not do this. Maybe it would have been ok with a series resistor, maybe not, I will always be using at least a voltage divider in future.
I now have an ESP12 with no functional Rx pin that was connected to a 5v PIC tx line. It was posting data to a thingspeak channel and stopped doing so after about 10 hours or so.
The device still functions, I can see my standard output data on both serial and serial1, complaining it is not getting packets but it is no longer reprogrammable and is going in the bin, after I have removed the flash chip for experiments.