Toad:
and in all player's hands.
Player's hands are not public information so you cannot find this value unless players play with their hands revealed.
Read the second line of rules text on the card:
Players play with their hands revealed.
My idea would be that it should have islandwalk because I can't really see how something that feeds off islands would have flying.
The way I see it, something like this would be a water-based creature, most likely made of water itself.
You're probably right, netherspirit. In hindsight, it would be better having Islandwalk instead of Flying.