Cleaves zeaxanthin symmetrically at the 7-8 and 7'-8' double bonds to produce crocetin dialdehyde and hydroxy-beta-cyclocitral, two water-soluble precursors sequestred in vacuoles and involved in the synthesis of saffron pigment and aroma. all-trans-zeaxanthin + 2 O2 = 2 3beta-hydroxy-beta-cyclocitral + crocetin dialdehyde Binds 1 Fe(2+) ion per subunit. In the style branches. By dehydration. Belongs to the carotenoid oxygenase family.