At risk to you? No. At risk to your users? Maybe. Depends on what you allow uploaded. PHP for example can not execute as CB Gallery won't allow it. I suppose someone could pack a virus into a zip file and would be a risk to users who download it, but not your site. Only way to stop that is to virus scan uploads, but even that's not entirely reliable. Vast majority of your upload protection is going to come from server configuration.
There's always some risk when allowing user content. Even a text field. You never know what someone is going to write for example (could be racist, hateful, etc..). All come with risk. How much risk you want to take is entirely up to your needs. If you don't need file uploads then I wouldn't allow it.
Kyle (Krileon) Community Builder Team Member Before posting on forums:
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