The coil won't blow up. It can't. The worst that can really happen is if you overheat it and melt the insulator on the derringer and it shorts out, or the wire gets hot enough that it melts and splits. The device SHOULD cut the power and keep the battery from having any issue if you melted the insulator, but it would ruin the derringer unless you could find a new insulator. If the coil gets hot enough that it splits, you will just have to make a new coil for it.
As for how many watts you can vape on it, we can't say without knowing exactly what type build it is. The best thing you can do is just start real low and slowly work your way up. If you start getting a burnt taste, you are at or slightly above the maximum watts you should run for that coil and wick. Back it down a few watts from there and you should be good.