"Precautionary Statements" appear (and are required) on all pesticide labels; AND for virtually every product offered for sale in today's litigious society. In many cases, I'm convinced that these statements serve to protect a manufacturer from the idiots in the world, more so than to alert consumers of the potential hazards posed by "typical uses" of the product.
The Precautionary Statement on this product's label is the standard and minimum verbiage found on ALL pesticide labels that display the "Caution" signal-word (which denotes the lowest level of practical-use hazard; as opposed to "warning" or "danger" signal-words).
It is the consumer's prerogative to decide which products represent an acceptable "risk:benefit" balance. In this particular case & IMO, repeatedly exposing children to concentrated waterfowl fecal-material represents an avoidable risk that far outweighs the miniscule risks associated with this product's appropriate use.
BTW, check out the warnings found on toothpaste, vanilla, children's asparin and many other household items.