Yes! Safe to use! Make sure you make a good backup of your system before running any big update (such as this one).
I’ve run this same command again (since the above post) and I am up to these versions:
Node-RED version: v0.17.5
Node.js version: v6.11.4
npm version: v3.10.10
Sorry for the Noob question, but by “good backup” do you mean a backup using the mechanism provided by EmonCMS (as documented in the guide), or a full backup of the SD card (through some form of cloning).
I’ve never attempted to do the latter with a RPi…