1) increased risk of segregation of aggregates, reducing homogeneity.
2) increases porosity/permeability
3) decreased resistance to chlorides and such
4) increased risk of shrinkage
5) increased surface defects, depends on finishing
6) decreased strength
Segregation can result in non-uniform strength and shrinkage.
The way to reduce shrinkage is to design a mix which, when placed, results in maximum rock-to-rock contact. In addition to other benefits like workability, small aggregate/sand acts as a filler to reduce paste. The paste will shrink as it cures and dries, so any excess paste can result in shrinkage. Adding water increases the amount of paste AND the the amount of excess water which will evaporate rather than react.
In the reaction/curing/drying process, wetter mixes end up with more and larger pores in the matrix. As the water fraction increases above optimum, the voids remain connected into pathways, rather than becoming individual pore. This is a reason for the increased permeability. The increased porosity can also mean less strength and durability since the optimum pores size for strength and durability is roughly 10 nm.
You might take a gander at:
for some more info. As the article says, it is difficult to related nano-scale reaction products with the mass of concrete in front of you when they represent nine orders of magnitude in size.