I dunno...high frequency is just a descriptive term. But after searching a bunch of documents on typical impedance curves for ceramic capacitors...the maximum frequency a X7R surface mount capacitor (leaded is a possibility for larger capacitances at less than 1MHz) is good for bypassing (theoretically according to the measured impedance curves) is about...
300MHz for 0.001uF surface mount
60MHz for 0.01uF surface mount
10~11MHz for 0.1uF surface mount
4~6~8 MHz for 1uF surface mount
4MHz for 2.2uF surface mount
2MHz for 4.7uF surface mount
1-2MHz for 10uF surface mount
1Mhz for 22uF surface mount
500kHz for 100uF
References:
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http://www.ttiinc.com/object/tech_seminars_052505muratapacket
Remember digital square waves contain harmonics that are 100x or 1000x greater than their frequency. Also be aware that just because a capacitor is better for bypassing at a higher frequency doesn't mean it's impedance will be as good (as low) for bypassing a lower frequency as a larger capacitor.
Neat stuff...if you're obsessive compulsive.