I can't think of much more that could happen. My opinion is: if you are a human equipped with a brain (which functions normally) there is not much risk using an paternoster.
The are many reasons for this, but it mostly comes down to people being distracted and simple statistics - given enough time, even a small risk will lead to accidents.
Signs might protect a new user - 'this is a guillotine if you hit the button it will cut your hand off'. Is that the point your making?
We were lucky, it was a very close thing. :\ Convenience vs. acceptable risk, with a certain amount of 'cool and rare' factor. Moving human bodies around is inherently dangerous.