Brian,
The safety valve itself is on the outside of the boiler and if mounted on the top, is above the water line.
Don't worry about the sprung part that is actually inside the boiler as it will mostly be in the steam space, and will not affect the operation of the valve.
Only if you overfill the boiler, say, more than two thirds capacity, will there be a chance of the valve being able to pass high temperature hot water or 'Prime'.
After all, they used to give this type of boiler for kids to play with 