UPDATE: Simply Press <Shift> + <F8>
Microsoft TechNet blogger, Juan Antonio Diaz, has documented the procedure for enabling Safe Mode in Windows 8 Developer Preview (since pressing the <F8> Key does not work!)
STEP #1) From the Windows 8 home screen type:
cmd and press <Ctrl>+<Shift> (to run “cmd” elevated)
STEP #2) From the command prompt, run:
bcdedit /enum /v
From the “Windows Boot Loader” section, write down the identifier GUID, {23fc82d2-….}
NOTE: This GUID is an example, your GUID will be different.
STEP #3) Using your GUID from Step #2, create a Safe Mode start-up selection by running:
bcdedit /copy {23fc82d2-….} /d “Windows Developer Preview (Safe Mode)”
NOTE: This GUID is an example, substitute your GUID from Step #2)
STEP #4) Also from the command prompt, run:
msconfig
From the “Boot” tab select your newly created boot item “Windows Developer Preview (Safe Mode)”
Select both “Safe boot” and “Make all boot settings permanent”
Click <OK> to save
STEP #5) Reboot – You’ll now have a Save Mode selection, as well as access to “Change defaults or choose other options”