It can be a disaster if you do it wrong, but do it right and you're fine Empire waists will always give that "preggers" illusion, but for some women (depending on your shape, and the drape of the fabric!) It's just fine.
Like CW said, the jeans need to be close to your body. Also, try to avoid flares with the empire-waist tops as the end of the top and the ends of the bottoms as well will draw the eye outward. Try capris with that look. They work wonders, cuffed or otherwise, and add a touch of fun to the outfit.