Polymerized tung oil--poisonous?

Marking papers all day means I can’t proofread worth a damn. Sorry.

On the recommendation of a luthier, I got some polymerized tung oil from Lee Valley Hardware to use on my banjo. I thought tung oil was safe, maybe not salad oil safe, but safe. This stuff comes with warnings that it’s toxic, inflammable, and if I hadn’t put it down and backed away from Ground Zero, maybe radioactive and explosive. I get that the adjective “polymerized” modifies “tung oil,” but what’s the straight dope on this stuff? Should I push my car down the block before creating an ignition spark and getting out of Dodge, or can I apply it with wild abandon? To my banjo. Which is not a slang term. Thanks.