There not much pine in it, theres a reason they call it cypress blend rather than cypress pine blend. but of whats there yes it is wet. Every real study I have found on pine issues was respiratory related. Breath it in and stuff happens to lungs and other organs. I havn't found anything on the supposed deadly oil i hear talked about and drying it out makes it ok again. The whole pine thing, You can debate if it is an issue with rodents since they make dust, there a chance of them breathing it in. If I looked im sure I could find the study that suggest it might lower their life expectancy, I brought it up in a thread quite a few years ago and general consensus seemed to be they don't live long enough anyways to see the complications from it. With that said I keep my rodents on pine, odor control is better than anything else and is light weight (less weight, less garbage bags gaining attention).
As far as snakes, I don't see the risk with pine. They don't create dust to kick up.