Good question... So far I'm not aware of any risks much greater than the ingesting of alcohol.

From briefly researching the effects of inhaled alcohol, mainly with the AWOL machine, I can't find much info about the health risks...

This article was the most informative I've found about the subject:
Is inhalable alcohol a good idea? - By Amanda Schaffer - Slate Magazine
GreenDestiny Reviewed by GreenDestiny on . Question to the doctors of cann.com Well... i just heard about a new method of ingesting cannabis, which is nebulizing green dragon. It seems a very interesting method, but i would like to know if there are any risks to the health, due the fact i would be inhaling alcohol, even if its only small amounts. So, what do you think? Rating: 5