You can resize the Windows partition, and it will still boot. Windows will give an error at start-up the first time saying the disk size doesn't match it's records, it will run checkdisk and update it's records, and then work fine. I've done this many times.
You cannot move the Windows partition though or it won't boot. It's worth pointing out that if you shrink from the left side of the Windows partition what you are actually doing is shrinking, and then moving; ONLY shrink from the right side of the partition. You also should not expand the partition on the left side as again you're actually moving it to the left, and then expanding off the end; ONLY expand from the right side of the paritition.
I would also point out that partitioning is never a 100% safe activity. You are altering the partition table, if that fails (slim chance) your entire disk is at risk for data loss. It's always a good idea to have a backup of your entire drive before engaging in any form of partitioning, not that most people actually do it.
(Here's a screen recording of a shrink operation. Just follow the link, click the filename, and then click the play button. The video is an MP4, and it's under 1MB in size. If your browser doesn't have MP4 support you can download the file and play it locally. https://copy.com/oNztlmbdl1RpY9iI )