deuterium is not the same as heavy water. Deuterium *IS* a gas at room temperature. Pure deuterium is like pure hydrogen, just twice as heavy and with other properties modified due to the neutron added. Heavy water is water with deuterium instead of hydrogen atoms.
The description of heavy water being under pressure so it won't turn into a gas in a reactor wasn't meant to indicate that heavy water is naturally gaseous, only that it would evaporate under heat just like regular water.
None of the sites I've read (due to this thread) about heavy water or deuterium has indicated that it is carcinogenic, and in fact they state that it is non-toxic. Given that its properties are almost exactly the same as simple hydrogen, I find it hard to believe that it is carcinogenic. (Tritium on the other hand is actually radioactive.)
Heavy water production, according to several sites, is monitored and controlled due to its usability to create nuclear weaponry. It skips over the need to use enriched uranium to create plutonium (natural uranium can be used if heavy water is available), and the technology needed is less. It may not be "regulated" in the sense that you have to apply to buy it or something, but you probably do have to register in some way to get it, or can only get it through certain sources which are regulated. I'm sure if you tried to purchase enough to make even one nuclear weapon's worth of plutonium, some alarms would go off. A few gallons purchased by a school science department isn't going to alarm anyone.