The only danger is dripping gas.
After doing a canisterectomy I connect both of these hoses together up there with a Y pipe and just drop one hose down to a safe place. The best place seems to be next to your rear brake master cyclinder with enough hose hanging down that any spills don't touch anything.
As it is now if your bike falls over when it is hot or running, or if you over fill your gas tank when hot....gasoline could drip on the engine and cause a fire.
James and Colleen Tucker.
Aut viam inveniam aut faciam
Beat our time, Los Angeles to Ushuaia 70 days