Looks like you are misreading the spec. sheet. You are assuming that absolute max values would be used in normal operation.
The LED input currents in common use would be 5-15mA, depending on the output current and voltages being controlled. The higher the current in the output, the higher the current required for the LED, but low power dissipation limits do not allow conditons where sustained high currents are applied to the LED input or allowed to flow in the transistor output.
What's neat is the the pinout of the chip is such that it would alow you to just lay a single 4-pin optocouplers over the existing bad opto and cutting the old ic's pins.
Think FOD817 type optocoupler.