There's no obvious risk except if you're dumb and use the VCC ( voltage ) cable instead of the RX one leading out of the PCB. USB port outputs 5v to the PCB inside the cable for powering it, then there's a voltage cable leading out of the PCB. You should find out which one this is to be sure, either by opening the casing around the PCB board inside the cable or using google. What i did was i opened up the cable and checked which cable was the VCC and cut the one leading out of the chip. since we dont need any power except for powering the actual cable PCB its safe to cut it.
Edit:
Forgot to mention that i will probably write a through guide to making these extractors later when i get time. A new thread will be made for that since this one was more for early collection of information and questions if it had been attempted before, there seem to be a fair amount of interested people to write a guide for.
This post has been edited by Datenshiz: Mar 2 2009, 01:40 PM