Just how bad of a thing is it? (Yes I know you are not supposed to do it, and it can be a poor design choice, but in some situations it is not really all that dangerous, others it can be very dangerous.)
Placing a fuse in the grounded conductor at the service equipment is much different situation than doing so at this individual load, and even a circuit supplying lampholders where screw shell is connected to grounded conductor it becomes a little more of a hazard. Many appliances and other listed items do sometimes switch the grounded conductor (and not simultaneously switch the ungrounded conductor).
If disconnect still opens both lines - opening the disconnect before servicing or changing the blown fuse on the grounded conductor leaves it in a safe to work on condition. It is not any more or less dangerous than if the grounded conductor became open for any reason.