1/4 tsp is about 1.23 mL. If you used IO Star, the MSDS says it's 1.6% iodine, which I assume is weight by volume, so 1.6g iodine per 100mL of solution. Based on those numbers you have about .02g iodine in your solution, or about .4mg per beer, and 1mg/liter. The WHO says the taste threshold for iodine is .15-.2mg/L (
http://www.who.int/water_sanitation_health/dwq/chemicals/iodine.pdf). However, you can drink .3mg/kg of body weight of iodine per day without ill effect according to the same page. For a 50kg person, which would be pretty light, that would be 15mg/day, which would be, for your brother's brew, about 40 beers a day.
So, long story short, best I can tell the iodine concentration is not toxic or harmful, but it will taint the taste of the beer. I would finish the brew and then see if the off-flavor is present. If it is, toss it, if not, drink it!