Your list does not list any side effects. I am still not hearing anything toxic about topical Bacitracin, even if some is ingested.
There are other components of Neosporin that the OP may have been trying to avoid (Neomycin, Polymyxin B) rather than Bacitracin, which is why I mentioned it.
There are many medications routinely given to children that are not FDA approved. That doesn't mean they aren't safe. Generally it means that children were excluded from the initial studies.