LOGIC is an insect growth regulator (IGR). It is now labeled only for non-bearing fruit tree orchards. However, the same active-ingredient found in LOGIC is also sold into the retail and commercial turf market under the name AWARD.
As with most IGRs, AWARD/LOGIC do not cause the death of any ants. Instead, once the workers feed it to the queen, she is rendered reproductively sterile. As the existing worker-ants complete their 6-week life-cycle, there are no new recruits to take their place - and the colony implodes.
But, this process takes time - usually a month or more. It is a very thorough and effective treatment for fire ants, but most folks are too impatient for results.
The best attribute for AWARD, LOGIC, ADVION, MAXFORCE, TOPCHOICE (aka Over-And-Out) and a few other insecticide-options is that only very small amounts of active-ingredient are involved in these formulations. Such was not the case with chlorpyrifos (DURSBAN) and diazinon (both of which had completely different modes-of-action compared to the brands listed above).
When properly applied, I feel that the newer chemistries (especially baits) pose extremely limited risks to nearby ponds - and far fewer risk than the unpredictable outcome following an encounter with the pest that they're designed to target.