Someone more in the know might have some corrections to what I'm
saying here so please feel free to jump in.
I think that the might be some health hazards (other than the usual
tummy ache) from eating raw cookie dough that contains unpasteurized
raw egg products. (I think that most of the non fatfree kinds that get
sold in the dairy case are made with pasteurized eggs.)
I think that most of the liquid egg replacers (many of which are
tinted egg whites plus some other stuff) have been treated to make
them safe but if you are separating your own eggs, I'm not sure how
healthy it is to just plan on eating large quantities of the raw [or
frozen raw] dough.