Blow Off Valve FAQ: Read if you are thinking of buying one! - NASIOC
Here's an excerpt from the linked thread that answers your question:
"Are there any negative effects with aftermarket BOVs? Yes. The downside of releasing the air to atmosphere is that it has already been metered by the mass air sensor, and when it blows off, the ECU will be injecting the wrong amount of fuel into the cylinders. The engine temporarily runs rich, meaning too much fuel is injected into the cylinders. On most tunes the target A/F under boost is @11.1:1 or so. Say you are at 11.1:1, then you shift and it vents. It will swing rich, typically to around 9.5:1. That is not that rich and this period lasts for under one second...again, nothing to write home about.
This temporary rich condition isn’t usually that harmful. Technically, it can eventually foul spark plugs and even clog the catalytic converter as unburned fuel on the catalytic converter burns very hot, and too much of it can melt the cat. The odds of either of these two conditions actually happening is very, very low though, but that's the theory.
As to blanket "you'll run rich" statements, a BOV will only run "rich" during hard acceleration and shifting as 99% of the time it stays closed."