The answer to your question in short is, relax, it’s safe!
I am a strict scientist and with good moral standards, if there is a big conspiracy I wouldn’t have known! Rape seeds have been grown as engine lubricants because it has a high erucic acid (bad taste) content and glucosinolates but scientists have grown a variety of rape seed which has low erucic acid.
The facts are:
The claim of your warning most likely came from below website, which is only partially true: "Here are just a few facts everyone should know before buying anything containing canola. Canola is not the name of a natural plant but a made-up word, from the words 'Canada' and 'oil.' Canola is a genetically engineered plant developed in Canada from the Rapeseed Plant, which is part of the mustard family of plants. " http://urbanlegends.about.com/library/blcanola3.htm
“Canola” actually is trade name, it is not a plant! Can.O., L-A." (Canadian Oilseed, Low-Acid) that was used by the Manitoba government to label the seed during its experimental stages, is now a tradename for "double low" (low erucic acid and low glucosinolate) rapeseed. Sometimes the "Canola-quality" label is affixed to other varieties as well.
It started off as a hybrid that means human selective breeding, not genetically modified. However, due to cross contaminations it is now possible that some rapeseed has been contaminated with a genetically modified Roundup resistant variety from US Monsanto Company.
http://www.mayoclinic.com/health/canola-oil/AN01281
MayoClinic (a very trustworthy Medical Institution) has the following answer:
Canola oil: Does it contain toxins?
I read an article on the Internet that said canola oil contains toxins that are harmful to humans. Is this true?
Answer
from Katherine Zeratsky, R.D., L.D. Health concerns about canola oil that are being circulated on the Internet are unfounded.
Misinformation about the safety of canola oil may stem from the fact that, years ago, oil was produced from the rapeseed plant. Rapeseed oil contains very high levels of erucic acid, a compound that in large amounts can be toxic to humans. The canola plant was developed by natural crossbreeding from the rapeseed plant. Canola oil is produced from canola plants, not rapeseed plants. Canola plants have very low levels of erucic acid.
Canola oil is generally recognized as safe by the Food and Drug Administration. In fact, canola oil is very low in saturated fat and has a very high proportion of monounsaturated fat, so it's a healthy and safe choice when it comes to oils. http://en.wikipedia.org/wiki/Canola
Canola was originally naturally bred from rapeseed in Canada by Keith Downey and Baldur R. Stefansson in the early 1970s,[3][4] but it has a very different nutritional profile in addition to much less erucic acid.[5] The name "canola" was derived from "Canadian oil, low acid" in 1978.[6][7] A product known as LEAR (for low erucic acid rapeseed) derived from cross-breeding of multiple lines of Brassica juncea is also referred to as canola oil and is considered safe for consumption.[8]