Depends on your definition of 'explosive'.
Kidding.
CO2 is a non-flammable gas, in fact, CO2 is used to put out fires.
CO2 is heavier than air, so if a tank did have a fast leak, it would be low to the ground. The thick CO2 replaces air, which contains the oxygen we need to live.
You'd really have ot have a full CO2 tank, and a very small, tightly sealed room in order to trap enough of it to cause harm...and even then your concern would mostly be for any living creature that breathes air from a foot off the ground...so babies, toddlers maybe, and small pets.
Honestly the biggest 'danger' is that the cylinder will get knocked over forcefull enough to snap off the valve on top, which turns the cyilnder into a blunt projectile. I believe it takes off at about 200fps (feet per second). Slower than a paintball gun, but a far greater mass/inertia.