I'm sure it's safe. All stands built by reputable manufacturers are tested at independant laboratories for safety and design specs. They break several stands to make sure they meet load limit restrictions and heat and freeze them to test effects of weather. Home builts never have that. You may be more confident in your building skills than that of others but do you ever test your stuff and then build another one? That being said: Nope haven't seen one.

EDIT: I just went to API's website and they no longer list that stand as one of their products. Maybe it wasn't safe?! Probably wasn't very popular for some of the reasons listed. Couldn't find it on a couple of other sites as well.