I am booked to go to a red sea resort with Thomson - and I am aware of the work that goes on in the back office at Thomson with regards to ensuring safety of its customers and if you ask people stuck in the snow/ash crisis the majority would be able to tell you that they look after you. Their excellent treatment of us when stranded during the ash crisis means i would never book with another company.
They do not tell you it is safe to go when it isnt. IF it becomes unsafe then they would cancel/offer alternatives at which point you are entitled to a refund if you want rather than booking another holiday.
If I was seriously considering changing my holiday I would pay the charge to change my holiday...dont forget that you could pay that charge on top of your deposit and buy a cheaper holiday! What is naughty is that the hotels are increasing the room charges which gets passed on to the tour operartor then then customer. Its naughty but inevitable.
My holiday is just after easter and I am confident in the decisions that they make with regards to passenger safety and also in the event of something happening - their crisis team are deployed and they have a plan in place to bring back customers to the UK safe and sound.
Bearing in mind the trouble in Tunisia...there were still people who ignored the offer of a flight home and stayed in resort! And that was violence and riots on the doorstep of the hotels! Sharm is untouched at the moment as are the red sea resorts.
The size and geography of Egypt is on the holiday makers side. It is only if problems start spreading but to be honest - egypt will hang itself if so!
Bottom line is - If there is a risk to your life these holidays would not be sold anymore (Like Tunisia!) by any of the reputable UK tour operators (Thomson/First Choice/Thomas Cook)
My one concern is that for those who havent booked insurance with them - not all insurance companies will now supply cover for egypt due the trouble (All good insurers should so you can get it) so you might need to shop around and check you are covered.
Good luck choosing! I would be losing £200 in deposit if I cut and run and theres no chance of that!