Generally and usually it's pretty safe, getting ripped off in the souk is usually your biggest worry.
See our travel safety articles here: http://journals.worldnomads.com/safetyhub/country/144/Morocco
But given the current situation a little more caution would be wise. In April last year there was a bomb in a cafe on the Djemma el-Fna square. 15 people died. If - IF - there were to be another attack inspired by the reaction to this film then popular tourist spots on the square MIGHT be potential targets. If you feel nervous or want to be cautious it would be a good idea to avoid those busy tourist hang-outs (which is always a good idea anyway for a travel experience).
Phil from the safety hub about 5 years ago
I am a Brit living in Marrakech and there have honestly been no riots or unrest in Marrakech. Morocco is still a very safe country to travel in and i really dont think you should have any cause for concern. I was in a Taxi last night talking to the driver about the unrest in the arab world and the recent film that has caused it and his response was quite matter of fact. "Just like in the rest of the world there are too many people with nothing better to do than go out and make noise about the smallest things, this is something that in Morocco will be forgotten about very quickly." I think that it may have caused greater problems in Egypt however Morocco has a much more stable political system.
All in all I for one don't think that you have anything to worry about. about 5 years ago