Having said that, it has been a pretty calm "state of emergency" . I have noticed an increasesed presence of military and police personnel, but I have not seen any confrontations at all. The government seems to be trying very hard to avoid and or prevent violence.
The protesters, called the "Red Shirts", seem to be only interested in political change here. I have actually seen a lot of "red shirts" now and it feels more like they are going to a soccer match than a protest. I walked down Sukhumvit road today and saw a caravan of them - honking horns and waving.
I feel safe and even went to get a Thai massage near my office - it was great!