I'm aware of the toxicity issues when the plant is alive, young shoots and spores esp, but when rotted I can't find anything about it. In fact bracken looks like a good addition to compost under the right circumstances, and I was told that when dried it is good bedding for stock.... This link was quite interesting:
http://apps.rhs.org.uk/advicesearch/Profile.aspx?PID=445I would have thought the leaves could be cleared either when young, so now ish, or dry/dead in winter, no point wasting good compost material. Then I personally would chuck some pigs in - I am very biased toward pigs and against using any chemicals - but pigs do such a great job of digging, I've used them here for everything from clearing rushes to digging stones out of the veg patch! Why not, they love it, keeps the entertained, and even if I had time I can't be ar$£d
They would then get most of the roots out - they don't seem to be the poisonous part and from my own experience of pigs getting into a slightly wooded area with bracken in, they cleared the lot and it hasn't come back so far. This wasn't planned and it was in leaf if I remember rightly but there were no ill effects, maybe it got trampled rather than eaten but the roots certainly went! We'll be planting some willow in the resulting empty space to stabilise the slope, just as soon as the fencing is pig proof again
HTH
Helen