Well, risk assessment is a balance between "How likely is this event to occur?" with, "How dangerous is the event if it occurs?" The likelihood of O2 toxicity by exceeding the ppO2 of 1.4 for a period of time is proportional to the degree to which you exceed it, and the length of time you do so -- but one of the scariest things about ox-tox seizures is that they are so horribly unpredictable between people, and even with a single person on different days. One of the most frightening things in my Rec Triox class was a table that summarized a variety of experiments done by different groups investigating oxygen toxicity. It impressed the dickens out of me. So the answer to the first question is that nobody can tell you, really, what the risk of a seizure is if you do 45 minutes of bottom time at a ppO2 of 1.5, but it isn't zero, and it's almost certainly higher than staying shallower or using a lesser mix.
The second part of the question is, "How dangerous is the event?" The answer to that is that almost all oxygen toxicity seizures that occur underwater are lethal. There have been a couple of documented survivors, both with highly trained buddies who happened to be focused on the diver at the moment the problem occurred, and who executed the salvage procedure flawlessly. I wouldn't count on that, especially during the average recreational dive.
So you have an outcome whose likelihood is uncertain and variable but which will almost certainly be lethal if it happens -- I don't know about you, but that's enough to make me want to avoid the risk. I dive conservative ppO2s.