I also sat in the first row of the VIP on 30/12 night. There was a 'river' and fence between the stage and our seats, so no need to worry about animals escape and get hurt. However, there is one session that the performers will jump from height, if you stand too close, the splash may make you wet. If you are sitting still like us, you won't get wet. Besides, although we were sitting in front, the performers would not come close to us, nor threw the gift to us.
But I think it is worth sitting in the front as you can see the show very clearly and experience closely the different effects. The total cost is only HK$110+HK$50, you can never enjoy this kind of seat in circus elsewhere in such a cheap fare.