And, as is clear from the above diagram, the grounded conductor will be white or grey, so it's function should be obvious. I don't see how this is any more hazardous than the neutral on any other system. As one of my old bosses used to say, "Beware of the noodle." His point was that the neutral is probably the most dangerous one as it shows no voltage until disconnected, but CAN be carrying significant current, which if it comes from an inductive load can push very hard against being disconnected.
Mark