No. This is not how it works my friend.
Casio has made a perfectly safe projector when used as a projector. It takes a high level of specialized skills and intent to take a component of this projector and make it into a tool to do malicious things with.
If someone wants to do malicious things, the diodes in this projector wouldn't even be on a list of concerns.
You can do a hell of a lot more dangerous things with zero specialized skills and a lot less money/resources/effort.
Take a childrens super-soaker squirt gun. Fill it with gasoline, and tape a lit candle in the path of the exiting stream. Now you have a 50ft range continous flame thrower. Take a $25 BB-gun from K-mart, aim it at an eye and shoot, instantly destroyed eye from 100+ft away. These are much cheaper, much more accessable, much more dangerous options consumers are able to re-purpose and use as malicious things, but of course you don't see lawsuits against squirt guns being re-purposed...
If a product is safely able to do it's intended purpose when it's sold, the legal risk is over. It's not like you can sue a shotgun shell manufacture because little Jimmy buys a box and cuts them all open for the powder, makes a bomb and blinds or cripples himself. That simply isn't how the world works (thank God.)
Casio can and will publicly posture in whatever position the company publicity department advises them is the best posture to take, likely pretending to be concerned and/or condescending towards people re-purposeing the diodes.
The reality is, they struck the biggest marketing jack-pot in the history of projectors, and are likely at work frantically trying to come up with a more powerful diode for the next model of projector (maybe all ready have?) for a chance to once again get a level of dirt-cheap marketing that no company ad campaign could ever match.