No risk Joe.
You connect the headphones jack of your amp to a mini jack mono into the microphone input of your PC .You will have to adjust headphone or master output level of your guitar amp to not distord.
To use your PC as a mixer ,use the universal audio output mini jack stéreo of your PC. Get a Plug with a mini jack stéreo male and two RCA female. Use also Volum control of your PC to adjust input and output level and not distord.
How I use my PC as a mixer:
My steel multi-effect-preamp goes into the microphone input of my PC. I use my PC for playing back tracks with Band in a Box, Winamp or recording with audacity, etc. And the sound goes out to the headphone or any stéreo system through the headphones output of the PC.
[This message was edited by Patrick Laffrat on 01 February 2006 at 01:56 AM.]