There was a real danger, and there still is. An excerpt (but read the whole thing): Terrorists who had planned to detonate gel-based explosives on U.S.-bound flights from London last August would have achieved mass devastation, according to new information from Homeland Security Secretary Michael Chertoff in an exclusive interview with ABC News.
...The components of that explosives mixture can be bought at any drugstore or supermarket; however, there is some question whether the potential terrorists would have had the skill to properly mix and detonate their explosive cocktails in-flight.
But they can work — scientists at Sandia National Laboratory conducted a test using the formula, and when a small amount of liquid in a container was hit with a tiny burst of electrical current, a large explosion followed.