There is most always code tags around them. As a matter of fact, the other obfuscated submission today IP addresses? has them. But no, no problem cut'n'pating. :-) However, there could be if there was some sort of "space sensitive code". When I cut'n'paste with a mouse, I usually have to do a white-space-elimination to get rid of skewing text.

P.S. Well I guess there are usually code tags only when viewed as a frontpage node, not when viewed from the Obfu section.