While ROMs and other surrogate models can have exponentially growing error in the worst case (the few rigorous error bounds are like this), a surrogate that is stable will only exhibit these exponentially growing errors for short times. Such a model would hopefully evolve on another attractor, close to the original in state space, so the distance between states is bounded from above. The goal for these types of problems is to construct or constrain the surrogate in a way that it can reproduce or approximate the chaotic parts of the system while the state space residual remains small.
That being said, the cruxes are
Whether the surrogate model is stable. Even very simple surrogate modeling methods such as proper orthogonal decomposition can become unstable for nonlinear systems under very small changes in model parameters. There is lots of current research of ROM stabilization, which tweaks the ROM basis to ensure that parts of the solution cannot blow up. However, many factors can lead to ROM instability and there is no general practice for fixing it.
Whether the surrogate is accurate. Depending on the sophistication of the surrogate model and the original system, there is often very little in the way of rigorous a priori or a posteriori error bounds or indicators, so a lot of surrogate development is in encoding heuristics and desireable properties into the surrogate structure in hopes that it reproduces key details of the original dynamics. I have seen some rigorous error bounds for POD ROMs on some general systems, but these bounds are often incredibly pessimistic and not informative.