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Ace, Chavez may be many things, but he's not a communist. If Lenin or Mao were alive today, they'd laugh at the idea. Acuse him of being a socialist, but you'll never make the argument that he's a communist.
Asylum-seekers that claim communism is immanent are basically appealing to the Bush administration's dislike for Chavez. I also don't think that he has as much personal power as you think.
To finally answer the question posed, I think that as long as he doesn't do anything stupid like start a personality cult or tax the upper middle class, there won't be any great exodus of Venezulans. Having 11,000 emigrate to the US isn't really that big of a deal for a country of 24,000,000 (off the top of my head).
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"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." - B. Franklin
"There ought to be limits to freedom." - George W. Bush
"We have met the enemy and he is us." - Pogo
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