I've heard that they will unwind - I guess leaving you with a coal miner's face and a handful of blackened slinkys. Can't find any google images of that, though.
Real info here, with good sections on barrel safety.
https://sites.google.com/a/damascusknowledge.com/www/home
Whether fluid steel or damascus, burst barrels are incredibly bad news to you and the welfare of the people that might be around you. Avoiding that is a big responsibility. Ensuring that the gun is in good health after 130 years of unknown maintenance or 'repair', and then using proper loads, diligent reloading practices, and conscientious checking of barrels whenever there is the slightest inkling that there could be an obstruction, are paramount to safety.
I hope the Bonehill checks out with a clean bill of health from a qualified side-x-side smith and you get a chance to shoot it.