We should be concerned about everything having to do with Russia. Russia has proven itself to be unpredictable as well as not abiding by standard code of conduct of a country of its stature. All countries should be very concerned about the missile test and other things having to do with Russia.
I think Russia is flexing it's military muscle in the region but I don't think it's something to be overly concerned about, the worse possible action the United States or other Western Nations could make is to overreact to something and cause a regional conflict to blow up into a much larger war.
No there is no reason to be concerned now with Russian missile tests. They have been testing missiles for the last 60+ years and there has yet to be a nuclear holocaust. This type of fear mongering is what started the last Cold war. Which cost hundreds of lives on both sides and ended with no real resolution other than the US pronouncing victory even though they just ceased to have an enemy.
I do not believe we should be concerned about the Russian missile test. Russia scheduled this test a while back and they made the test known to the world. I think people are looking at Russia and their motives in the wrong way. The missile test shouldn't be a thing of concern.