Well I agree with you. I think it's a stretch, but I'll argue here for argument's sake (meaning there's the teenest tiniest possibility that it's completely true):
[quote=Barbrella;333818]Yes, many animals give off substances that may be toxic, but I've never heard of one giving off any that poison only themselves and not any other creatures nearby. Not a good nature's plan for survival of the species!

[/Barbrella]
In nature, they're not in a confined space, so the substance would only be toxic in high concentration. That could explain that.
Pandas are more sensitive than most many other corys to any substance: nitrate, nitrite, etc. So that would explain why they're the only ones to go. When they are dead, they no longer release the substances, explaining why the other fish don't go with them.
To really stretch my imagination, you could even extrapolate that, as the alarm substance is designed as communication among panda corys, it is on the contrary a very good design to have them more sensitive to the substance than other fish. Their senses would be geared to pick up that substance over and above other chemicals in the water.
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Originally Posted by Barbrella
Breeders often have tricks and tips that are passed around and handed down, and they work but often not for the reasons the breeders think they do.
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Sooo true. I re-iterate this: I was not able to corroborate this, so take it with a pinch of salt.
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Originally Posted by Barbrella
If the person you talked to thinks there is some noxious substance being released by pandas, he no doubt makes sure to keep the water extra clean and that would contribute to the survival of his fish, with or without AC.
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We can't use that as an argument either way: it doesn't imply, nor reject, the influence of AC on panda survival. We don't know whether the breeder experimented with clean water/AC; dirty water/AC; clean water/no AC and dirty water/no AC.
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Originally Posted by Barbrella
Pandas in petstores have usually gone through several trips, stuck in small bags of water that get dirty, so why don't they all die en route, trapped in small bags while releasing toxic substances?
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That's a very good point, but again, don't a lot of pandas have a very low survival rate after arriving home? This could explain that.
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Originally Posted by Barbrella
My Pandas died too, seemingly for no reason. My search for answers resulted in the conclusion that they arrive in our homes from the petstore in an already weakened condition from the stress of travel/dirty water, and easily succumb to infection causing their eventual deaths. 
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I also could never really find a satisfactory explanation, but that doesn't mean that one that hasn't come from the internet but from word of mouth is invalid.
Still, I don't really know whether it's true, and if so, to what specific extent, but am giving it a go and I've started keeping pandas again. I'll let you know how it goes.