Getting the warning:
Silverstripe cannot alter tables. This won't prevent installation, however it may cause issues if you try to run a /dev/build once installed. 
I can complete the installation,but I am concerned on how this will effect future development while my site is on this server?
For reference: I am hosting on Bluehost shared hosting
Edit: Yes - dbuser has all permissions, including ALTER
This might be an incorrect warning.
This warning has appeared for me on very rare occasions on a certain web host. I think SilverStripe was unable to check the database privileges on that web server correctly. My guess is SilverStripe thought the database user did not have the correct privileges, but it did.
Complete the installation and then check if the database builds correctly. If it builds correctly it means the database user does have the ALTER table privilege.
If the database does not build correctly contact the web host asking them to fix this for you.
