As far as meconium (the baby's poop), it's usually (but not always) passed because the baby is in distress. It doesn't really have much to do with how many days past your EDD you go.
Inductions also have high c-section risks. I would be less worried about meconium in my body than I would be of a major abdominal surgery that takes weeks to recover from.
This isn't to say I don't agree with inductions. I was induced the day after my due date with my daughter, and I'm hoping to be induced again with this pregnancy because my due date is so close to the new year. But keep things in perspective and know all the facts beforehand. Be smart about your induction. Ask questions, keep a plan in your mind, and do what you can to make sure things go the way you want them to go.
There's a medicine they can insert into your vagina that can help your cervix dilate and efface. There's pitocin that they can give you in your IV. As long as your blood pressure and the baby's heart rate are both okay and your water hasn't broken, you can remain this way for days without letting them bully you into a c-section "because you're not progressing". Progression takes time, and you have all the time in the world if you and your baby aren't in danger.
This is why I tell women not to let the doctors break their water until it's clear you're progressing. As soon as your water is broken, the clock is ticking. You only have a certain amount of time before they HAVE to get the baby out, otherwise you're risking getting an infection. This is one of the main reasons for c-sections. Vaginal birth is so much easier to recover from than c-section, so remember to take your time and not to get too impatient for progress. It will happen. No woman has stayed pregnant forever.