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Mar 14, 2021 at 3:17 vote accept Tim Campion
Dec 13, 2019 at 20:59 comment added Tyler Lawson @TimCampion I think that the difference is that your question is about the literal action of $A^*$ on the ring $H^*(B\Bbb Z/p)$, whereas the coaction is scheme-theoretic--it describes an action of $A^*$ on the $R$-points of the additive formal group for any extension ring $R$ of $\Bbb Z/p$.
Dec 13, 2019 at 14:39 comment added user43326 As a matter of fact the action is "faithful on generaors", which somewhat dualizes to what you are saying.
Dec 13, 2019 at 14:25 comment added Tim Campion Thanks! Now I’m very confused because in some sense the coaction of the dual Steenrod algebra is “faithful”— it’s used to construct the isomorphism between spec of the dual Steenrod algebra and a certain automorphism scheme of the additive formal group...
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