dying from getting struck be a batted ball was Ray Chapman of the Cleveland Indians in the early 1900's. Of course, that was off of a wood bat. Someone hit a ball that hit him in the temple, and killed him. Back then, they used baseballs that were often very dirty, and obviously more of a brown color, so MLB started making the umpires use newer, white baseballs even more.
I have actually heard of more damage from batters getting hit in the head from pitches. Like Tony Conigliaro in the late 60's, and Adam Greenberg of the Chicago Cubs earlier in this decade.
I remember Juan Encanarcion of the Cardinals was hit by a ball while on deck, and that ended his career.
The biggest danger with wood bats is that they break from time to time, and there is added danger because you have lots of objects moving- the ball and the sharp wooden pieces. Those can distract a fielder or a runner, which adds to the danger.
So, wood bats are not exactly totally friendly either.
I do support college baseball using wood, because I do not think that technology can replicate wood at this time in a form that will not break. I think all things being equal, they should use wood. Colleges did it for years until the 70's, and didn't seem to have a huge financial burden doing so.