If trypsin and chymotrypsin become activated within the pancreas and then are released in their active forms into the bloodstream, why would this represent a potentially life-threatening situation?

function of trypsin and chemotrypsin:

these are digestive enzymes present in pancreatic juice and they perform process of proteolysis mean protein break down ...

why they are dangerous in blood stream:

as they digest proteins so when they go into blood they can digest all proteins present in blood (like albumin etc) that are very important to carry certain processes ...