This area could REALLY use some major expansion, as at this moment we only have notes on how raw magic creates radiation, but little else about it.
Raw magic isn't supposed to exist on the inner plane. Whenever it appears, it disrupts space in such a way that it leaves behind a residual effect. This creates anomalies in the environment, and mutations in organic matter.
Raw magic in liquid form is referred to as exoplasm. It only exists inside living creatures from the Outer plane, and thus only the Gods and Psi have it.