The sand should be perfectly safe for fish. As far as looks, that is up to you obviously. I happen to not like black sand for a reef tank. It can look cool in a fish only tank. To me it doesn't look "natural" in a reef setup. I also think it makes a reef tank look a little darker due to not reflecting light. I don't know if you lose any significant pH buffering due to the sand not being aragonite based. Like I said....personal opinion.
On the other hand, black sand isn't tremendously overused in reefs either, so it can add a unique factor. I have heard that it is heavier than aragonite based sand and doesn't blow around as much or easily. If you like the look of it then go for it. Some people also mix some white sand in for a salt and pepper look.