I can't find the article, but this is what I remember from it:
 Found an article: http://www.cbwinfo.com/Biological/Toxins/Palytoxin.html
I didn't know it had the largest naturally-ocurring contiguous chain of Carbon...there's 115 in the chain. Huge molecule..anyways[/edit]
In cells there are ion pumps and ion channels. What this toxin does, essentially, is turn all ion pumps in your cells into ion channels. This disrupts the very very delicate flow of ions (notably sodium and potassium) in and out of your cells. This causes the cell to stop functioning. The cause of death is usually suffocation, as your cells don't work, and you can't breathe.
It will kill you. Wash hands thoroughly after handling, and never let any living thing (like a dog, or a child, or a cat...not talking about the fish) in the same water as the Zoos. There was message here linking to a story: a man lost his dog because
he had Zoos in a bucket. I think he was fragging them. Anyways, he looked away to take care of something, and when he turned around, the dog had drank some water from the bucket. He thought nothing of it, until the dog got very ill a short time later. It's one of the most powerful toxins, ranking up there with Botulin toxin. Anyways, as long as you take extreme caution, and wash your hands every time, and keep other animals and people away from it, you should be ok.
This is all I remember from the article, and if anyone knows/has heard differently, please offer the information. If you find the article I'm talking about, or one similar, please post a URL, as I know I for one would like to have it in the future. Hope this helps! Happy reefkeeping.