The only danger that might occur from such genetic manipulation is that they might turn gelatinous.
In all seriousness, it is quite safe. It is a simple manipulation of the genetic coding from one creature, being isolated, and bred into a different animal. The ability to do so could someday bring potential genetic therapies to the human populace, or even prevent diseases or physical maladies that are inherited in certain family trees from being passed on to subsequent offspring.
It isn't only about glowing bunnies, which I still find a source of potential revenue? But about the ability to isolate and introduce genetic coding from two entirely different creatures, which opens up a wide range of possibilities.