Some stuff that stinky has had to say about mold:

in a response to post by Nugget Lover:
"But baking would kill the germs so I don't see the harm."
Quote Originally Posted by stinkyattic
-Not germs
-Does not kill all mold spores
-Does not eradicate TOXINS that were already produced by said mold before you tried to kill it
from another thread about mold:
Quote Originally Posted by stinkyattic
... And no, 'heat' does NOT destroy mold spores. There is a specific temperature required for proper sterilization of infected material. You have to ensure that temperature is attained and held for enough time to thoroughly destroy pathogens. With mold, that's not your only concern. There are also toxins produced by the mold.

... If you have any quantity of moldy bud, IMO the safest way to process it would be into a solvent-extracted (isopropanol or butane) hash or oil product. Personally, I would not smoke or eat it in any other form, including bubble hash, although many people DO add moldy bud to their scrap bag for bubble.

Spores can be damn near everywhere in the environment, so it's impossible to filter them out and it's gonna get on everything. The only thing we can really do is just adjust temperature and humidity, and keep things clean so that we don't give them a chance to start growing mold. Chances are there are spores, dead or alive, on every bud we've ever smoked, but they're so tiny and few that any toxicity would be negligible to your immune system.

Makes me wonder about how many microscopic creepy-crawly bugs are in the weed too like dust mites. MMMMMM good stuff.