You'll want to refer to recent technical standards for intrinsic safety. I remember, that at least in previous standards, surface mounted Z-diodes haven't been recognized as reliable connected.
Zener diode power rating refers to the maximum power that can be supplied by the circuit in case of fault, considering only current limiting resistors and possibly fuses. The diodes must be loaded with 2/3 of rated power maximum, many standards require double or triple redundancy (number of parallel diodes).
Intrinsic safety also depends on reliable grounding or safe insulation.