We have seen no hard-and-fast evidence of flywheel explosions documented even remotely decently. There is no existing evidence outlining pre-detonation condition, peak RPM, operating conditions, modifications, etc.
The truth- run fast enough, something WILL fail
The myth- your flywheel's going go off like an anti-personnel mine at 5000 RPM.
I would bet a paycheck that THE ONE minibike flywheel failure video we've all seen was suffering an underlying condition- most likely that the flywheel was previously damaged by some idiotstick beating it off the engine with a 48" crowbar, run out of balance due to missing fins, or the modifications were done in the wrong order, like high-flow intake and exhaust, stiffer valve springs, rejetting, etc allowing insane RPM.
Maybe it was just over-throttled with no load.
I saw a failure video (can't remember which engine). Was pinned with no load. Of course it's gonna break, you twit...
Long story short-
IF THINGS ARE DONE PROPERLY, odds are good everything will be fine. Just think about how many kart racers run de-governed clones. Many are still more or less stock inside. How many have died lately? Yesterday, someone was killed crossing the street.