tinyE: Just finished off my 1st boss and got it's Crimson Seeds, and after looking at the Wiki I'm wondering WHY IN THE HELL WOULD I WANT TO PLANT THESE!?!?! :P
Is there anything else like that I should be looking for that the game presents as a gift only to end up being totally evil?
When you generate a world, it randomly decides between giving you the Corruption or the Crimson. Both have exclusive enemies and an exclusive boss, along with their own exclusive drops, which may be unavailable to you through normal means in a single world. If you take crimson seeds and plant them in a world that has the Corruption, however, and you cultivate it enough that enemies start spawning in that area, then you get access to the drops from both. You won't gain access to the exclusive ores from the other side, but the normal enemies and their materials will be available artificially. What would it do for you in your crimson world? Probably not a lot, since I'm sure that you don't have a shortage of crimson in the world. :P
The only thing that immediately comes to mind that would be super-dangerous is trying to use a boss-summoning item to summon a boss that is alive and attacking you at that moment. When trying to use most of the items, they simply don't work until the boss is dead or has left, but one item in particular will decide to do something like 1000 damage instead of simply not summoning the already-present boss. So, as long as you don't try to summon multiple copies of the same boss at the same time, then you'll be able to avoid that particular effect and be fine, I think.