In general it's possible to overclock laptops and the ability to do so mainly depends on support is overclocking software used.
The chances of it blowing up are very small (mostly because only component that can explode is the battery).
As for cooling, laptops have in general pretty advanced temperature throttling systems so you should in general be safe. The most important thing when overclocking is same as on desktops: Monitor your temperatures and see how far they go during stress testing and be aware of temperature limits on of the system.
It is generally good idea to do some stress testing before actually trying to overclock. This should give you an idea how good the cooling on your laptop is and you'll be able to determine if it's smart to try to overclock the system further.
Also note that on many laptops (I'm not sure about yours) the cooling system is shared among CPU, chipset, internal DC-DC converters and GPU so be sure to stress test both GPU and CPU at the same time if you plan to play games with overclocked hardware.