I have been experimenting with the Kodak Rapid selenium toner and had the same thing on my mind about disposal.
I find that the ammonia smell goes away quite quickly but the toner keeps on toning. Does the toner suffer from oxidation? I've been keeping it in the tray and only putting a larger tray over top of it?
Lastly; how toxic is it? do you all wear gloves ... or just put up with the slowly approaching dementia?