I'm thinking he might study the Dave Tiberi game plan and outwork him. If the best Taylor shows up he has a chance. But Toney was pretty good at that weight.
Taylor could stay outside and use his speed advantage to win a UD as he's got a size, reach, and speed advantage on Toney. If he gets drawn into a fight, which is a distinct possibility, Toney would likely knock him out.
I'm surprised it's this one sided, it's not like Toney's got a stellar track record against size and speed and didn't struggle against lesser fighters. He should be the favorite, but in no way would it be a blowout.