I have used this orthodontic wire too many times to remember. Not once has it come within a meter of either of my eyes, or un-coiled into a tangled mess.
Its probably used several times on a daily basis by orthodontists, during the process of installing oral braces. If there was any risk of injury it would have a warning label on the reel.
It makes excellent push rods and can be easily straightened out with pliers for short lengths, For longer lengths by use a drill and wooden block with a hole in, works great.
The best part is its inexpensive compared with piano wire of the same thickness.