As to the safety question I cannot reply but it makes logical metalury sense that a bulge translates into thinner metal.
What I do know is I purchased several thousand 40's to reload and went through the normal processes only to find they did not feed well into my Springfield XDM. That is when I first discovered the bulge problem. I now use a case gauge on everything - especially the 40 brass the first time through. I have eliminated a few rounds that I could buy a Lee bulge buster for. Not sure if is worth it or not. My Hornady dies won't go down quite far enough to get all of the bulge.
Hope that helps
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