Cryptoblizz is created by veteran programmers with years and years of experience. That being said, when it comes to code, Cryptoblizz is absolutely secure.
When it comes to security risks, there is not much risk in running Cryptoblizz security wise. Because you run it on your own PC or on a single server at a hosting provider, you are not likely to be a target for thiefs / hackers. And you can easily protect the installation with a password so that only you can access the installation.
If you are running Cryptoblizz on your PC you do have to make sure your PC is secure and has no virusses. When running Cryptoblizz hosted at a hosting provider you will have to make sure the hosting provider is trusthworthy and provides good security on their servers.