Depends on the bow. If it's a modern bow, then it probably won't blow up in your face. If it's an older style bow with the steel cables, dacron string and teardrop connectors, it very well could blow up in your face.
The AMO recommended arrow weight chart (which I think only fools ignore

) shows a minimum 320 grains for 62# draw at 27" for a high performance cam. 286 grains for an energy cam. 251 grains for a round wheel bow. 217 grains for a recurve.
But, those are recommended MINIMUM weights... the kind of stuff target shooters mess around with. Hunters should really use arrows running quite a bit heavier, in my not-so-humble opinion. Personally, I'd never shoot a hunting arrow that weighs less than 450 grains (I usually shoot arrows running from 550-700 grains), and think 400 grains should be the absolute minimum for hunting arrows.