As a public service to you all, please ship all beers aerated with O2 from the red cylinders to my house for scientific testing.
I will expertly determine if the beer if considered safe for human consumption.
Note that you are responsible for shipping, and the samples will be destroyed during the testing process.
Reread the label 'byproducts of combustion' can cause cancer. You aren't burning it, nor are you inhaling it.
Here is the actual MSDS sheet for that cylinder. I see no references to cancer, and the rest seems pretty much what you would expect about keeping it from ignition sources and high heat.
http://www.worthingtonindustries.com/getmedia/8c813bf5-e753-445c-ab99-c760a12fa8d7/wc033-oxygen