Powdery Mildew doesn't produce know aflatoxins, but it tastes and smells like hammered crap, so if there is a lot present, bubble extraction may not solve your problem. We save PM infected material by extracting the resin using BHO or QWET, and then filtering down to 0.2 microns, so as to remove all mold material, as well as any bacteria present.
Once the mold material is gone, there is no taste and smell.
That only works on molds that don't produce aflatoxins, which are not filtered out at any filter pore size, as they are in solution.
Aspergillus, a composting mold living on dead plants, does produce aflatoxin, which can be pernicious, especially if you have a compromised immune system.