Is it really live

How do the organisms in the life sand survive in a bag with no oxygen. Wouldnt that result in your live sand being not so live?

The life sand are normally packed into bags filled up with atmospheric air for short distance transportation. Longer distance transportation require filling up of bag with oxygen mix. All the movement during transportation causes agitation to the water-air surface, providing a limited source of dissolved oxygen.

But, hey, don't expect most of your tiny organism in the live sand to survive. Such stress is tremendous to organism of such size. Hmm i think let's just hope there's eggs/cysts in the live sand which would survive when it finally reaches our aquarium!

That makes sense.

The aerobic organisms in the sand generally die long before sale. The anerobic denitrifying things(which are more important) die from lack of food eventually, as well. It's mostly good because it's easily seeded and repopulated once it's in place in an aquarium with good live rock or a sample of active live sand from a good working reef tank.

but isn't denitrifying bacteria supposed to be found in Deep Sand bed?? where anerobic condition are present? Could this bacteria die off when exposed to aerobic condition??

They can be found in any sand bed where oxygen can't get easily(anything over an inch really), the deeper, the more effective. They are typically out competed by aerobic bacteria right away when oxygen flow is good, as aerobic metabolism is much more efficient. Any argonite sand makes good "live sand" from what I have heard, as it is porous and can host LOTS of bacteria.