Enabling ActiveX Control in your browser will make your browser become insecure. It is almost the same as running .exe files in your browser. Therefore, viruses, trojan horses and other types of threats can run in your browser.

According to Symantec Internet Security Threat Report 2007:

During the first half of 2007, 89 percent of plug-in vulnerabilities disclosed affected ActiveX® components for Internet Explorer. ActiveX components accounted for 58 percent of plug-in vulnerabilities in the second half of 2006.

So, disabling ActiveX Control in your browser is a good thing to do to prevent threats from infecting your PC.

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