In terms of eye damage, frequency ( colour) doesn't realy change much ( incuding those frequencies that are outside human visual spectra), what matters is what wattage is being emitted from the ( usualy ) diode.
and even the 0.005 mW diodes on "novilty" laser pointers can do huge amounts of damage, as I can testify myself.
Yes they are useful and nifty, if used safely, but seriously, how many twits out there think its a bit of fun to 'tag' someone with it * sigh*