And the blue dye might contain glycol and other chemicals that you (I) don't really want in the intake system.
It works, but a better solution is to just mix your own. Run a 50/50 mix of methanol and distilled water. I get methanol in a 5 gallon plastic jug at a local petroleum shop, and distilled water at Wally world. In my case, it lasts for 20-30 fillups, depending on how hard I drive.
I know acetone is used in a few DIY octane booster recipes, but I don't know about running it through a WAI system. I don't having any information on it, but I get a funny feeling thinking about it
I'd just stick with the 50/50 meth/H2O mix, or maybe substitue isopropyl (rubbing) alcohol instead of methanol if you can't get it. If you go with isopropyl, get the stronger concentration.. I think it is like 95 or 98% (I forget what they call it, but the local Wal-Mart sells quart-sized bottles of both types in the pharmacy). The "normal" stuff is only like 80%, if I remember correctly.
You may also find that pure distilled water gives you as much or even more of a benefit, depending on your climate and how good your local gas is... due to it's much better intake cooling ability.