As a specifying engineer I normally specify copper feeders. Both AL & CU are safe and will function well when installed properly, but CU is much more forgiving (for lack of a better word) than AL. Mis-installations of AL feeders are more likely and more common than with CU feeders. Basically there are more things that can go wrong with AL than with CU.
I do run into projects where budget requires use of AL feeders and in 18 years have only had two AL issues on projects we designed out of probably 50 AL feeder projects. One due to poor termination of feeders at panel and one due to contractor using improper sized feeder (matched CU feeder size indicated on dwgs despite VE changeorder for larger AL feeder). Both were design-build projects where we did not perform a final walk-thru and thus did not catch mistakes. In each case heat (wire, termination, and breakers) alerted maintenance personnel who contacted us. In both cases the heat was excessive - could touch breakers but could not keep hand on them for more than a few seconds. Luckily no fires or injuries in either case.
In addition to these two instances we were called in on a project designed by another engineer where poor termination of AL feeders was causing breaker in panel to heat. Have also worked on two apartment projects where fires from aluminum branch circuit wiring (both instances CU only receptacles used with #12 AL).
I know if CU terminated improperly or if wrong size CU conductors used the same problems could occur, but in same 18 years I have designed well over 500 CU feeder projects with no similar instances.
So yes, AL feeders installed, sized, & terminated PROPERLY will work just as well as CU feeders and are just as safe as CU feeders - with "properly" being the key word.
With CU prices skying again, I expect to see more and more VE request for AL feeders.