Unfortunately that orange level is like the boy who cried wolf. It has been at orange for years. That doesn't mean that it is less safe to fly, which is already pretty much the safest way to travel.
If anything, things are safer now than they were 10 years ago. Just a short while ago in US airports one could go to the gate as a non-flyer, one didn't have detailed security measures, etc. So while the security in the US isn't where it could be, it is better than it was.
I know that many of you have been very fortunate not to be exposed to as much terrorism, bombings, etc whether on the street or in public places. But we have learned to balance our fear with logic and rational behaviour and watchfulness.
As an example, I was on the Paris metro awhile back and there was an announcement that due to a possible bomb the train would not stop at the next major station but would pass through. Most people got off as they had to find a different connection, but a few of us stayed on as we would just ride through the potential bomb area and get off later at our usual stops. I speak French pretty fluently but was reading a book in English, so the old man near me tried to tell me in broken English what happened. To all of us, French or German, it was just part of our daily life, and nothing that we feared.
I have travelled to many parts of the world which your government lists as 'unsafe' on the warnings page. But the security is usually much more intense than in America so I don't feel unsafe, and often in those parts of the world personal crime is lower too.
It's ok to feel some fear, but I strongly encourage educating yourself on the statistics of plane travel as being rational and logical can help to override that fear.
It would take a LOT to get me to stop flying and travelling to the places I visit.
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