Re: will it burn...
I've read a little bit on these engines and even looked into importing and selling them. I read somewhere on these engines that in China they didn't use a specific 2-stroke oil but an off the shelf auto oil for the premix and I've used 30wt auto oil in 2-strokes when I was a kid never heard of a 2-stroke oil then but I'm sure there was.
I know farmers used to run kerosene in their gas tractors as my dads international tractor Manuel had a section on how to start it on gas then once warmed up switching over to kerosene but his tractor wasn't set up to do that.
Last time I priced kerosene around $4.00 something per gallon in Nov.2007 I went to the airport and got jet fuel instead $20.00 for 6 gallons better price. I use the stuff in a portable heater in the garage. I'm lucky in that our airport is more laid back and everyone knows each other the way airports used to be before 911.
You might have something on the used french fry oil. a guy named Jimmy Glenn wrote a book on building alcohol burning Briggs for kart racing and he tried peanut oil as a lube and worked with good results but the price is as bad a the racing oil we used at around $15.00 a gallon so you might really have a good idea but if you burn up the engine that will ruin your day.
the wally world oil is cheap and works good for me but if a guy doesn't experiment no one will ever know you have to willing to suffer the out come.