When it comes to safety, it's okay to run the air conditioner around the clock. You don't have to worry about the components getting too hot or breaking down right away. While security isn't a concern, money is. Running your air conditioning unit on a continuous basis will dramatically increase your energy bill. This is why it is recommended to keep the air conditioner turned on but raised to a higher temperature.
The DOE notes that a higher indoor temperature actually slows the flow of heat to the house, saving energy and money.