Let the record show that, for my part, I prefer to use literally in its literal sense. I would never says that its misuse would make my head literally explode.
The second reason for not saying that is that literally, as HeadsUp: The Blog points out in a post, has multiple meanings, including, well, "figuratively" or "for all intents and purposes." You can find that in the Oxford English Dictionary and in Merriam-Webster's Dictionary of English Usage and in the works of respectable writers over a long span. As fev points out, "Grownup reference books note that the extended sense reverses the original meaning. As the nice folks at Merriam-Webster put it, 'hyperbole requires care in handling.' But the world didn't end when this meaning crept into English in the 18th century, and it's at little risk of collapsing from a touch of well-worn hyperbole in the 21st."