I also use 1.6.8 regularly without any issues. If you wanted to go back to 1.6.5, the updated 1.6.5r5 would be fine, as the r5 simply indicates there was a minor change made as something found wrong with the previous release available for download - the IDE won't be different in any way. I have also tried the Arduino 1.6.9 nightly for other reasons related to FTDI Arduino programming, and can report that it fixes some major issues with 1.6.8 in that area. Nothing that would affect the Oak.
The Safe Mode and Default bits defragster are referring to are in the board menu, and related to whether (when in default mode) the Oak will automatically fall back to safe mode if the Oak fails to see the wireless network for more than a minute or so, or will only go into safe mode when P1 is GNDed on power on (manual config) or if there is no safe mode (advanced - use with caution!)