Would a projector lamp explode
There is nothing explosive inside a projector bulb, so &quot;explosion&quot; is the wrong word here.  The glass envelope, however, can burst and that can shower glass fragments around inside the enclosure.  I've seen this happen but I have never seen a projector destroyed by it.
An older bulb can be more likely to burst due to the extreme thermal cycling they go through so you should be looking at getting a replacement soon since this on has reached the end of its useful life.
The more clear danger with such a bulb is that the filament is close to breaking and that will leave you without your projector usually when you need it the most.