The popular term for wallowing in feces or playing with it is called ‘Scat-play’. (That’s such a cool word. ‘scat’, ‘scatology’)
I dunno if there -is- a popular term for actually eating the stuff other than ‘shiteating’. ‘Brown Shower’ might be another one.
But there is an element of slang involved. Partners who engage in this behavior will usually refer to the ‘receiver’ as their ‘toilet’.
Since I have almost no sense of self-shame anymore, I’ve researched a little of this stuff. I wish I had the URL right now (I don’t remember it off the tip of my paw), but people who have done it usually describe the taste as very much akin to whatever the person was eating in their diet, but with a noticeable ‘burned’ quality to it.
The fecal matter itself has properties that are, like previous posters said, rather harmless as long as you don’t actually get it inside any orifices (eyes, nose, mouth, vans deferens, ears maybe?) the anus is probably pretty safe, I imagine. 
The ecoli bacteria thrives in the stomach and intestines–and I imagine must be plentiful in fecal matter. Of course, most ecoli, except for the mutation you’re all aware of in cattle products, is harmless, I believe. I invite anyone to correct me please if I am wrong.
There -is- a risk of contracting Hepatitis through the ingestion of feces. Urinary tract infections if you get any into yer yiffer. I suspect the overall high content of bacteria in itself might make you sick unless you have a powerful stomach.
Since human sexuality can take on a whole slew of interesting fetishes in any one person (as if -you- don’t have any!), it’s important to look on people who engage in this behavior with a compassionate mind. We might think it’s weird and icky, but at least it’s a fetish that doesn’t really harm anything unwillingly. (Like those ‘crush’ videos you hear about.)
-Ashley