I would guess that Coleman fuels is pretty darn explosive - nearly as much as gasoline. It seems kerosine or charcoal lighter filuid would be much safer and still provide a very impressive first light.
Regarding the use of vasoline-covered cotton balls, I read somewhere - maybe one of the threads here - the recommendation of doping only every other cotton ball and then stuffing them into the container alternating with dry cottom balls. This makes lots of sense. It almost ensures that you'll have some dry cotton that will catch a spark well. I'll have to try that.