toxins are like when you are smoking ( now I don't smoke, but a buddy of me does extensive research on the subject here at the university).
Your body is equipped really well to handle toxins, but there are several degrees.
First degree toxin is something in contact with your skin. You'll need a whole lot to get enough toxins in your system to have some serious effect.
Second degree are toxin inhaled.. they stay in your lungs a lot longer then toxin on your skin, and are absorbed by the system much faster.
Third degree toxin is a toxin directly in your blood. Worst off course.
About the first dgeree toxins, your body is made to get rid of them.. your skin is constantly renweing itself, and a human body over it's entire lifespan get's a new upperskin thousands of times. If your skin is toxic ina certain area, like intoxicated with dioxin ( by product of synthetic oils) it simply renews the skin faster. Ever seen a knifemaker with a smooth skin on both hands

???
With the handgrinding, I use oil too sometimes, but a good spit on it works just fine too.. know.. disgusting but very effective

.
But even with oil, the black is particles in your skin, in miniature cuts made by the sanding paper and other stuff. the toxins, even the oil, do not migrate into your body, all they can do is grow out of your skin because your skin renews itself from the inside to the outside. And for those very few particles that do make it into your system ( that is at least 1/10 inch deep through your skin), they are easy to eliminate by the system of a healthy man.
The inhalation is another story tough.. The dust in your lungs is disposed off at a very slow rate.. we're talking 10 gramms pro month or so for regular household dust ( which is 90 % skin particles BTW).
For nasty stuff like fiberglass, carbon fiber or G-10 it is much slower.. I guess you can inhale like 30 gramms a year of fiberglass whithout it reaching your system.. more then that, and it could cause problems. A regular healthy set of lungs can dispose of some quantities of cigarette stuff, but about worth 100 cigarettes a year.
Any more is resident nasty stuff in your lungs. Sooo.. if you wanna have clean lungs, you can smoke 200 cigarettes in a year, smoke none the next and still have clean lungs afterwards.
Comes down to.. you only one set of lungs, and if you screw them up, you're in deep trouble. Wear a respirator when you see dry dust !
If you get dirty hands.. no big deal.. it's just dirty, and it'll wear off.
Greetz and take care, Bart.