Here's my 2 cents...
1. The fuse idea is a good one.
With a light fuse, 80ma you protect yourself against sudden surges of electricity, if a large bust comes through the line, it's not going to take minutes to blow, it will be damn near instant, there is a limit to the nuber of electrons that can pass through the wire at a time, if it is lower voltage, and the fuse isn't going to blow instantly, you will FEEL it and be able to react.
My Fender has ha this wire on it since the day I bought it, and no problems yet. I didn't even concve of thie problem until now. If you are really scared of being shocked to death, maybe the best solution is to remove the wire and just shield the crap out of the pickup and wiring. If it was me...and it is with my fender, I'd just instal very light gauge wire like the type in pickup wiring that cannot conduct much electricity.
Also the fuse won't blow with normal use, I mean think about it, the current is going through the guitar as you play it right? Are you getting shocked all the time? no, so it can't be enough current to blow the fuse with normal use.
PS, anyone who sees flaws in my logic/reasoning, please point them out to keep the integrity of this post.