I was rigging a connector yesterday so I can charge the lipo battery on a new charger. I striped the 3 wires soddered them. Slipped the shrink wrap over the sodddered area but did not heat it up. went to do something else, forgot about it, somehow I must have bumped it. The shrink wrap slipped off, live wires touched each other, wire insulation started to melt, next thing I knew, the wires were on fire. With my quick reaction, I cut all the wires and everything calm down.
Lesson learned: Strip and insulate one wire at a time. Cut wires at different segments so they wont touch each other. Finish what you are doing before doing something else. Work with lipos in a non flamable area. LIPOS CAN BURN DOWN YOUR HOUSE.