The white powder I messed with making in 2009 was just Salt Peter and sugar. It does work and it does burn very clean because there is no Sulfur or Charcoal, but it is harder to ignite than BP and it takes more powder to get the same bang. The MSDS for White Hot lists Potassium Percholrate as an ingredient, which is probably how they are able to make it equivalent to BP. Still an article I read says it needs to be ignited with 209 primers rather than percussion caps which tells me your guess of being sugar based is probably right.Probably true, and probably sugar based.
Looking at their MSDS, I would not use it.
Josh
I personally would have no problem trying White Hot. It is made by Hogdon which is a pretty reputable company.