Since this is a piercing in your skin, I believe scarring would be the most logical health risk to keep in mind, due to the area it is in.
The main problem that is associated with the piercing in the tongue is scarring. The oral piercing can be very armful for the mouth and can cause infection in the mouth.
Little bumps can occur around the site of the piercing which is cause due to the scar usually on the entrance and exit of the scar.
There are possibility that the piercing does not causes any problem and sometime it can cause scar and bump in the tongue and bump.