I don't know if they have BECOME to risky or not. The 1960's were most definately showing alot of leg and skin in general. Here is our beloved young Fifi that would make the eyes bulge out of anyone who is NOT schooled in belly dance. Also, nagwa is dancing in the same clip but she is a wedding guest.
And Nagwa in the same style. Butt cheeks are visable in this one.
So, I feel that the costumes today are not any more reveling than the ones from 40 yrs. ago, they are just revealing in a different way.