prob not as they have current limiting resistors in circuit that limit to 5, 10 15 & 20 ma depending which hole you stick it in, at least thats the way I rember mine working befor it grew legs. I although would not try this the first time with a expensive LD, I would use a unwanted IR or a cheaper red type on my first try IMHO...
Just when I tried to submit my reply, the server went down...
Possibly yes. Laser diodes may have low voltages for the maximum permissible reverse voltage. I've checked the datasheet for a 635nm diode which had 2V max here, which was less than the normal operating forward voltage. Better use the pinout diagram.
My bench multimeter use 2.95v for diode testing so for the IR diodes that specify 2.2volts dropped I should be able to forward bias it and see if its bad or good just like any other diode dont you think.
Surely if you reverse bias it with the few ma's supplied by the meter you would not blow thru the pn juction.