My suggestion is to ask your tuner and if you're planning on installing it, start small on power (smaller nitrous pills/jets/whatever) and sneak up on your desired power output.
Example: Start at 35 extra horses and see how your engine likes it and the maybe jump to 50 hp and then 70 hp all while logging (if possible) for KR (knock retard aka detonation), spark timing, and AFR (air fuel ratio). If you get some knock, then you can correct it by either turning back the timing more, install the next smaller nitrous jet or add some fuel or a combination of those.
I've run N20 on a couple of cars. One was stock 1987 Pontiac Trans Am with a 305 with TPI and a 100 horse shot and it ran alright and a built 68 Camaro with a 540 ci. BBC that snorted 2 stages of nitrous (Stage one was 150 and then 250 more on top but the system was designed to use up to 600+ extra horses total) that ran low 9's on the first stage. The ones that I've used were wet kits, which means that there is an added solenoid for fueling instead of relying on the ECM/PCM/Whatever adding it. I never had any problems with the nitrous but traction was sometimes an issue (on the street, not the track)!
Most of the time, you'll hear stories about nitrous backfires or nitrous fires but most of the time they are from people who've never run nitrous before and they were probably caused by running too large of a shot (sometimes without proper fueling added and sometimes just too much power for their engine) or a poorly installed system. As I said, start small and work up to your goal. Anything can blow up if set up incorrectly or just abused. Set it up with enough fuel and a good tune and you should be fine. As Reaperhwk said, a step colder on the plugs helps too.
Here's the Nitrous Express Proton System (Dry kit) with a video. It's some food for thought.
Nitrous Express Proton system...............
Nitrous Outlet Wet Kit....................
I'm by no means knocking anyone's opinion but I highly recommend doing your own research instead of taking my or anyone's opinion because if something bad happens, you'll get either a Sorry or an I told you so while you're left picking up the pieces of a broken car.
Good Luck!