I doubt they will allow Chrome if this is activated and they cannot deactivate it using group policies or registry keys.
It's not a server application (I hope), so the telemetry will just access Intel servers and post a bunch of data. Depending on how the data is encrypted and signed, someone could abuse this service by posting a flood of fake data.
It could be abused, as any piece of software, but I don't expect remote code execution on it. Maybe a local privilege escalation, an unsafe driver leading to code running as SYSTEM, things like that.
A right is not what someone gives you; it's what no one can take from you. -- Ramsey Clark