Toslink does *NOT* accept 24/96. Or at least it didn't when the question was asked of Bob Stuart. Apparently the hardware is capable of it though.
I have successfully played 2-channel 24/96 material out of the Mini Toslink on a Mac Mini into the Optical Input of a G68
The G68 displayed PCM 2ch 96k as you would expect
So, the Toslink connection is capable of 24/96 as it just a different implementation of SPDIF. It is however possible that Meridian's implementation in the F80 does not support 24/96. I've never tested that with the F80, so I can't say