There's not going to be any risk to the HD if you want to use it with a bass through the Bassman model.  You might need to consider the amplification system you play it through though to ensure the amp and speaker can handle it.

I'm not a bass player primarily, bit I do have a Fender Precision and Ihave tried it through the HD500.  It sounds OK and quite acceptable, but remember the HD500 is primarily for six string guitar