Would you volunteer for more work these days?

Last night, I ran into my boss' boss on my way out. He is a VP, the right hand person to our COO. I prepare the weekly busness review package for him to present in the COO starff meeting. Surprisingly, he stopped me and the following is our conversation:

Him: "I have a question for you."
Me: "Yeah?"
Him: "How are you doing?"
Me: "I am doing all right."
Him: "You know, you are dealing with the forecast more than anybody else in the company..."
Me: " I always seal my lips..."
Him: "No, no. I am not talking about the confidentiality of the numbers. I am talking about seeing the numbers going down ... "
Me: "So that I will be depressed?"
Him: "Yes."
Me: "I was a little bit before the Christmas. Now, I calmed down. I understand this is the business."
Him: "You know, I am busy these days, but if you want to talk, you can come to my office and talk to me. I don't want you to be sleepless over the night."
Me: " Thank you. It's very thoughtful of you. I am okay. If you have more exercise for me to do, I'll be glad to."
Him: "Yeah, I may expand more work to you."
Me: "I always welcome new work. Good night!"

Our company has gone through 2 rounds of layoff now. Since I am responsible for the sales forecast, I feel another one is coming. This VP is one who decides who to stay or let go in our group. Of course, I don't want myself to be on the black list. He is a very serious person. I've worked with him on a weekly basis for a little over a year now. I never expected he would talk to me like that. I felt good that he seems to care about my feelings. On the other hand, I regreted that I shouldn't have volunteered for more work. It may make him think I am not fully occupied. Did I expose myself to more risks?