There are very few dangers of longterm use when properly used, except for tolerance to the relief it provides; albuterol is a very safe and effective drug, as is levoalbuterol. Tolerance is a definite concern however and the reason that the inhaler is directed to be used solely for salvation from an asthma attack, and current medical practice is to pair it with a corticosteroid maintenance inhaler. In asthma sufferers who use albuterol alone, there has been some suggestion that hospitalizations and death from asthma are somewhat higher statistically speaking; other reviews find it to even out. This is specifically because of the tolerance issue. When a user is tolerant, not only do they potentially get into a situation where it will no longer relieve asthma, they tend to have to use more to do so, which increases peripheral side effects. Having to use a lot will result in the beta-2-agonist side effect profile, which is similar to what you'd see with other adrenergics. Systemic increase in blood pressure, tachycardia.
As for the inhaled corticosteroids used for asthma, at low doses most of them don't present a significant concern as far as typical corticosteroid side effects: at higher doses and with systemic oral corticosteroids those issues do potentially exist.
As for the psychoactive effect you mention, I'm not sure. I haven't experienced that myself over the years of taking the stuff, except insofar as it's nice to stop having an asthma attack if I was having one. But then, I take a psychostimulant for ADHD. The two obvious possibilities are that (1) you have low-level bronchoconstriction that isn't always noticeable, hence feeling subtly better when it's relieved (2)that you're enjoying systemic stimulation. How do you react to things like coffee?