You can cancel for whatever reason you like. You don't even have to give your reason unless you have travel insurance and are trying to get a refund. It's unlikely that you will be able to get a refund on airfare unless you bought the most expensive refundable tickets or have travel insurance that covers unfounded fear of terrorism (unlikely). You may be able to cancel accommodations without penalty That will depend on the cancellation policy of what you bought. You're safer in Europe than in the US.
Well it does make you look like an idiot but since you're that afraid, just cancel.
Read the terms and conditions of the purchase, you may get full, partial or no refunds.
Would you ever cop onto yourself? You'll have a great time, don't worry.
If you live in the U.S. Your chances of a violent death will greatly decrease the second you set foot in Europe.
Terror of what? Old churches?
That would be idiotic (I live in the UK. What terror?)