Orion's handling of community strings is quite secure, by default the web console will not reveal these to users. However there is an option within the System Manager advanced settings to show "Secure data on web" - if this and the Toolset Integration is enabled on an account, then the web console will reveal the community string on request. Otherwise as you say, with just toolset integration enabled the user will be prompted to provide the string.
Some equipment does provide the facility to set an ACL on the SNMP string, so you could restrict that string to only handle IP SLAs - might be worth checking if there is such a thing for your kit!
Hope this answers your question.
You can choose to not display the community string in the Orion settings, which shoule eliminate your concerns. Also you can created limited user accounts in orion that dont have the ability to change anything, just view. I have close to 1000 devices and almost 2000 interfaces setup in orion that everyone can view, but i have the setup to view only. In other words, make them use the web console not the Orion System Manager. all of your admin, setup...etc can be done from there.
so to answer your question, NO, it will not if you take the time and effort to correctly setup the user rights and views in the web console (web interface).