We keep those levels of potential energy in underground gas tanks at every gas station, and no one freaks out about that.
edit: For perspective, a typical gas station has 12,000 to 24,000 gallons of gasoline storage underground. A gallon of gas is about 120 megajoules of potential energy. So there are billions of joules sitting there - much more than these flywheels. Of course, without air, gasoline isn't dangerous. But a 90% empty tank has a lot of air in it, a lot of potential boom.