I have a busted wheel that I don't use outside (it's no longer round) mounted with an old tire and a spare cassette. I swap it on my bike when I want to ride on the trainer.

As long as I keep the tire on that wheel pumped up to 110 psi and tighten the trainer to the wheel as hard as I can, I don't get black bits flying everywhere. The times that I've had the black bits flying, it's been either the tire pressure was too low or it wasn't tightened enough, which allowed the tire to slip and have black bits fly everywhere.