Google "suicide clip" and sidemount and you'll find a plethora of posts showing both sides of this debate. If the clip is both within reach (just in case) and facing the correct way on the d ring there is not much opportunity for line to get inside the clip because of the circle formed by the bungee, tank, BACK of the clip, d ring, and the side of your body.
I dive every weekend and see about half the sidemount divers out there using either these or boat clips... (boat clips are these http://www.lucianwintrich.com/wp-content/uploads/2010/09/S-D-139131-1_med.jpg)
If they make you uncomfortable, don't dive with them. I've investigated the issue and decided they are ok for the dives I do. If your dives are swimming upside down and backwards without bungees through the electrical room of a deep wreck, you might want to come up with something else.
One thing I have learned on SB is there in no ONE right answer for anything. Lots of opinions, and sometimes even logical thinking behind those decisions, that's what makes SB so fun, interesting, and informative to me. A lot of the fun for me is sifting through the dross and coming up with a solid, logical, and reliable idea that works for me (and my buddies) in my diving situations. I'm with you Swampy459.