Pressure "explosion", not the shrapnel-type from something like a grenade, unless you sealed it in a metal- or ceramic- composure container, but the damage is more on the nerves than physical. Barring any unfortunately-aimed shards.
Again, just guessing. Having seen the odd YouTube vidpost or two...
When dry ice sublimates it turns from a solid to a gas. If the pressure is high enough it turns back into a liquid if it is below the critical temperature. At that temperature however, the pressure is close to 1000 PSI.
So yes, if dry ice is placed in a container when it adsorbs enough heat it will explode when the pressure exceeds what the container can withstand.
confine it in a closed container and as it begins to warm up and vaporize the pressure builds. Does this answer your question....?
A dust explosion got us the biggest boom along with flames.
This is the stuff you used to do as a kid. Now it's something Homeland Security goes nuts over.
Cremora coffee creamer explodes, too.
http://www.youtube.com/watch?v=IdMo_5VZHd8
Tutorial: http://www.youtube.com/watch?v=sSFu1ahRuR4
(It's probably a good thing that kid isn't a Mooselimb.)