Are There Any Risks to Your Stylus From Using Magic Eraser

First of all, sibilance is due to boosted frequency's between 2500 and 4000Hz. Instruments like female voices and violins have a lot of output here. Cutting those frequency's just 2 or 3 dB smooths things out beautifully.
A dirty stylus when it gets bad enough causes miss tracking. 
Any stylus cleaning method can damage the stylus if used aggressively. Most methods just remove the lint. If there is any "gunk" on there it will require a solvent. 
A Zerostat does not work. It is an unfortunate waste of money. Yes it will temporarily remove static but as soon as you put that stylus down in the groove you generate thousands of volts in just a few minutes. Then if you are not using a dust cover the record attracts dust like a magnet and you wind up with a filthy stylus.  You have to discharge the record while it is playing using a conductive sweep arm which also removes any incidental dust. Use a dust cover also and you will hardly ever have to clean your stylus. 

First of all, sibilance is due to boosted frequency's between 2500 and 4000Hz.

https://www.sound-smith.com/faq/what-are-causes-sibilance

+1 Mulveling!

Way too many timid mice around as far as dealing with stylus cleaning.
I have been cleaning my styli with combinations of ME, Onzow and brush for as long as I can remember and quite vigorously to boot.
Never broken anything yet..... (touch wood)
As long as you are not a total cak handed clutz you can get pretty enthusiastic with cleaning even on more expensive carts.
My collection includes Koetsu Black Goldline, Scheu SL, Ortofon Black Cadenza etc.

I use Furutech SK3 brush after each play and Lyra SPT only sometimes and my cartridges last for years.