It is pretty safe, I have never heard of someone ruining a CPU due to lapping, though if you do happen to destroy it in another way don't even try to RMA it
http://www.legitreviews.com/article/402/1/
http://forum.overclock3d.net/showthread.php?t=416 (old but same principle applies)
You don't even have to waste time and effort taping off the base, just use masking tape over the bottom if you want, you don't really need to.
I lapped my D805 to a mirror finish, much more mirrored than the one in the legit reviews article, and gained about 7C under load initially, and about 10C after AS5 settled in. My IHS looked flat until i started sanding, it could hold a few drops of water in the middle because it was pretty convex.
When you are done just rinse it with distilled water, let it dry and rinse again with 90+% isopropyl and let it dry 24 hours or so just to be safe.
Post a pic when you are done