I have one and shoot Magnus Snuffers. They are not covered by the hood and it is possible it could cause me to cut myself. I tend to hunt rough country with thick growth and a fall could cause me to get cut.... Hasn't so far though!
Is it worth the money?
I like mine but I got a good deal and really it is not much better than any quiver and does add a bit of weight to the bow. I would probably not get another if I needed a new one.