If you're vaping with an ego battery you're fine, really. The exploding PV problem came, mostly, from tube modes made with no vent built in the tube being used with low quality unprotected batteries. You only really need to worry about this if you're buying someones custom built mod and buying your own batteries, and even then you can look at the battery description to see if it's protected or not (most PV vendors sell only protected or safe chemistry batteries).
All a protected battery is is a battery with a protection circuit built in (this normally makes the battery 2mm taller). The circuitry normally shuts down the battery in the event of a really low resistance load, which in turn pulls high amps much like a short would. In short it keeps you from over loading the battery, over charging the battery, and over draining the battery. Many mods use protected batteries in conjunction with a switch designed to act much like, or in place of, the protection circuit of these batteries.
The explosions you've read about are usually from a mix of poor engineering, a lack of understanding, and poor decision making. If you take a weak, unprotected battery, throw it in a tube with no venting (holes to allow gas to escape in the event of catastrophic failure like an explosion), and thrown on you're favorite 1.5+/-.2 ohm carto that reads out at 1.2 (I found one in my collection) then the outcome most likely wont be good. The low resistance of the carto will put a huge draw on the battery, which probably wasn't built to put out the amperage being drawn and has no fail safe to shut itself down, the eventual outcome of this setup is either an leaking battery or a battery that blows up. If the battery explodes with no vents then once the gas expands enough your tube is going to pop like a metal balloon when it's being used (normally in front of your face).
It has been my experience, through reading only, that the majority of ego type battery explosions happened when charging the battery for too long. The general consinsus seems to be that a bad charger is normally to blame, though it is not recommended you charge your batteries overnight or leave them unattended. I think that using a decent surge protector is also a good idea when charging any battery.
That's my two cents.