Not a safety hazard, and the reason it is "within spec's." is becasue S&W raised their B/C gap tolerances not that long ago. It used to be that .007" was the max, not the .012" they quote you now. In my personal opinion, I think it is too much and would pass on a revolver greater than .006 - .007" B/C gap.
My feeling is that anything larger than .007" will cause excessive velocity loss and spitting, but I guess the Factory has trouble keeping the gap consistent, so they raised their acceptable tolerances.
Chief38