As an avid reptile keeper, (chameleons especially), I can tell you that ladybugs as well as 'lightning bugs' both contain toxins. How they react to your octos physiology is unknown to me, however, I would guess the toxins can not be good as food or water additives.
AH yes...the PA is the last bastion of "hot" reptiles...sigh. I wish we were a bit free-er out here on that subject...but, we can keep quite a few rattlesnakes. I used to have the nicest collection of tree vipers...
On the subject of the beetles... I wouldn't worry overmuch about one beetle being eaten, but I wouldn't push your luck...cover that tank! I think that spraying (the exterminator) would be worse than the beetles though...we stopped using toxins about 3 years ago...bought 6 banana geckos and just let them loose...works out great! (except for when we had to move...fast little buggers). Nary a cricket, scorpion, spider or roach shows its head for very long !
Pudge is still doing well although he still doesn't change colors like all the other octos that I hear about. I just finished covering the tank (again) with duct tape. We also have a bunch of boxelder bugs, are they as bad as the ladybugs?