[YEA] We need to understand the difference between elemental iron and organic iron. The reduced iron in your breakfast cereal and enriched flour is nothing more than iron filings. An anemic friend got a prescription from her doc that was nothing more than powdered rust in glycerine. Elemental iron actually causes pernicious anemia, according to the PDR. It's the inorganic iron that builds up in your system and acts as a free radical.
In contrast, the iron compounds in molasses are in an organic form compounded by the plant to be useful to living things, and safe. I wouldn't worry about overdosing on molasses.
By the way, molasses is a superfood indeed. They start with a field of plants, remove the water, fiber, sugar, and what's left is concentrated organic minerals! If such a thing were formulated in a lab it would be ridiculously expensive. But here it is, dirt cheap and delicious.