That's a loaded question. A lot say they are not safe, a lot say they are. I did a lot of reading as well. I may have an article or two saved on my pc if you want me to email them to you. send me an email at
blg@cox.net.
I had the same questions on mine, which is an 86 150. Mine was hooked up, but I was worried. Ended up loosing a ring, so I did a rebuild. While I was at it, I bought a new pump for about $280. I didn't want to pre-mix.
I have since read they can easily be rebuilt for around $30. My old one was a 2 wire unit, the new is 3 and it has a blue fitting. I'm glad I went new. I don't remember what the blue fitting means, but it was mentioned as being better, I believe. The extra wire is a purple wire, which I believe goes to the choke (?).
If you want to hook it up, you can do so, just run 50:1 mix in fuel tank until you verify the VRO is using oil from oil tank. I would also verify the low oil alarm sounds. I believe that can be tested by hooking up the VRO w/out oil in the oil tank, but 50:1 mix in fuel tank and running the motor. If the alarm sounds, the alarm is working. From there fill the oil tank, unhook the oil line from pump, prime reconnect and keep an eye on it.
Like I said, I read a lot about them and decided to keep mine.
Good luck and let us know what you decide to do....