#1: You should have really posted that in the Watercooling forum.
#2: If installed correctly it's very safe.
#3: If you don't install it correctly you're replacing your parts. Who did you think would? The manufacturer of the watercooling gear? You're the guy who decided to put water inside your computer.
#4: If installed correctly it's not going to leak unless you're playing with the hoses and clamps on a daily basis.