Am I too chicken, thinking that a slight error in judgement would cause
the tool to "catch" (as in turning) on the wheel, with frightening results?


Not to worry, Lynn

It wouldn't catch using a jig any more than hand grinding it would.
Since the tool is at a steep angle. I've noticed that the wheel seems
to be slightly pushing the tool away from it. Simply having a good
grip on the tool solves this.