Yes - don't do it...
Jeff Howell writes in his book Looking After Your Property:
Insect repellents are based on nerve gas and are potentially dangerous especially to the very young and the very old who might spend longer indoors than adults.
Secondly woodworm holes are the flight holes of the beetle - if you can see a hole the insect is long gone.
If the timber is below 11% moisture content then wood boring insects will not be interested - keep the place warm and well ventilated.
Boiled Linseed Oil is a safe insect repellent.
Check out Wikipedia for the usual chemicals used - Boron and Permethrin.
Good luck...
Peccavi
November 2012