At the worst, you risk oxidation!
High PH (a.k.a. low acidity) menas that your wine has been stripped of its protective armor and is now vunerable to bacterial/microbial problems, flavor instability, and oxidation.
I would recomend (if you plan on keeping the wine for any length of time) that you adjust the acid level to that which is recomended (.65gpl for reds or .70gpl for white/fruit wines).
I would also recomend that you throw away your acid blend and use tartaric acid instead. tartaric acid is naturally occuring in grapes and will taste (IMO) softer than if you use the blend (which usually contains both citric and malic acids).
Good friends, go in, and taste some wine with me; And we, like friends, will straightway go together (Julius Caesar, Act 2, Scene 2)