Not really, at least the carrier was not actively being shelled while he was doing his big thumbs-up.

Fun fact, also, they had to spend time flipping the carrier around in the water so that San Diego wouldn't be in the background and people could assume that he was in the middle of the Persian Gulf I guess.

While researching that last little bit, I also found this:

The White House claimed that the banner was requested by the crew of the ship, who did not have the facilities for producing such a banner. Later, the administration and naval sources said that the banner was the Navy's idea, White House staff members made the banner, and it was hung by Navy sailors. White House spokesman Scott McClellan told CNN, "We took care of the production of it. We have people to do those things. But the Navy actually put it up."[11] According to John Dickerson of Time magazine, the White House later conceded that they hung the banner but still insisted it had been done at the request of the crew members.[12]

Oh, for those innocent days when we thought that was a big crew of morons and liars who were fucking up directing the ship of state.