Papillons, and Phalenes are no different than any other toy breeds.
Puppy vaccinations have saved many of lives, but there are some puppies that will have allergic reactions to a vaccines.
The most common reaction generally just makes the puppy feel listless for a couple of days but in a rare case they can have an anaphylactic shock.
The signs of anaphylaxis include vomiting, diarrhea, seizures, pale gums, weak pulse, facial swelling, a fast heart rate and cold limbs.
The risk of a puppy catching a disease, followed by death is much, much higher, than the chance of having a reaction to a vaccination.