How much oil is being burned is an excellent question and is good thing to find out to make the experiment more complete. How to do that? Long tube attached to the muffler with the exit inside a jar. Also, mileage will be another item to consider. There appears to be a LOT more oil being expelled than normal. Still, we know that oil is being burned. We have only 22% volatiles and we have NEARLY full power. And well, the smell is like peanut breath only in this case it's sunflower seeds.
That's how I would check. But we don't know that oil is actually burning. Based on the fact that the compression is backed out a full turn from normal I think that most of the oil ends up in the cylinder in an incompressible form, meaning liquid. We know that liquid fuel doesn't burn. Fuel consumption would be the other way to check. Yes there is only 22% volatile component, but that' doesn't mean the oil is burning. Try a mix of 78% castor and 22% ether and tell me what happens. I would say some is burning, but not much, based on how much ended up on your hand in the video.
Nearly full power? If you consider 90% RPM to be 90% power you would be incorrect. The prop has cubic power absorption to RPM. So at 90% of any given RPM you have only 72.9% power.
In my opinion mainly the lighter portion of the fuel is burning even though it's only 22% of the mix. Fuel consumption figures would easily prove or disprove this.