If you attached the signal line to and Arduino input pin (say through a 1K resistor) and then used a 10K pull-down to ground then I cannot see what issues you can have.
The max current that would flow to ground through the 10K would be 5/10,000 = 0.5mA (actually it would be 5/11,000 if you used a 1K). This is not likely to cause a problem to anything. If you chose to connect directly (rather than through a resistor) and then for some mad reason you made the pin an output and set it low then you could cause problems. Otherwise, I can't see any issues.