When I was writing electrical maintenance procedures in a refinery I was trained to use a phrase like “CAUTION; The misuse of this electrical equipment may clause electric shock resulting in serious injury or death” for instances where the hazard was not eminent or is preventable. And in other parts like that included in working with energized equipment, I used the phrase “Warning; Electricians performing these tasks could be exposed to electrical shock.” This is for instances where a hazard does exist.
The general requirement was to inform the reader of the hazards involved without overstating the situation. The use of the word “caution” was intended for conditions that may exist and the word “warning” was used for conditions that could or will exist.
Can't remember where the references or guides came from.