True, it didn't wipe out ALL life in the gulf. Hurray!
So the answer to "into what" would be to collapse into the oil-filled voids within the floor.
It's just something I heard on the news when this was news. Maybe it was complete nonsense. Sorry if I offended anyone with my comment!
I have heard the same speculations you refer to in the news, but I think they instead refered to the topmost portion of the well being destroyed, creating cracks in the top of the shaft of the well and allowing oil to leak in all directions. I am not a geologist, so I don't know how plausible these worries were.
You could argue that it was or wasn't as big of a disaster as expected, but the corexit comment was certainly relevant regardless.
Damage from corexit would have be factored into initial concerns.
these guys http://cat.inist.fr/?aModele=afficheN&cpsidt=24108904 suggest that it doesn't help the bacteria work, but doesn't suggest any enhanced toxicity.
There are plenty of links to reliable sources there. Which page were you looking at?