the atip is just data stating the disk is cdrw/cdr etc, pressed cd's/dvd's (originals) do NOT have an atip, so an atip check is simply to detect if the disk is original or not.. as for reading the atip, theres not really much info in it, just the disk capacity and dye used (which inturn can point to the manufacturer), atip reading can be tricky, some devices 'accept' generic commands to read the atip, others do not
atip = actual time in pre groove
now, why would u need an atip reader? as for damage, at worst a program could lock up the cd/dvd drive requiring a reboot, thats about it, or a bsod maybe... really depends on the drivers etc..