Your code only needs to be threadsafe if you wish to enable the concurrent flag, otherwise your code will happily run as it had before.
I just thought it's important to note that they're not forcing you to push a code update unless you want to handle concurrent requests with a single instance.
http://stackoverflow.com/questions/4028787/is-it-thread-safe...
Thilo added answer a few hours ago, pointing out the new threadsafe mode for GAE. That's why I like StackOverflow.