You wouldn't blow up it by powering LED strips, worst case it would shut itself down, however probably not even that, as each pin should be current-limited. Current limit is 5 or 8mA if I remember correctly, either way probably not enough to provide enough current for more than 1 LED per pin at a time. Additionally, the 3.3V line is limited to about 100mA total, so if you have several LEDs that could also be troublesome. I am not sure I understand what you mean by
Each strip would be turned on ideally only one at a time
How many LEDs at a time would be on?
If the provided current is not enough, then you'll need an external device (typically a transistor) to provide the neded current from the 5V bus.
