No.

Methyl Hydrate is methanol, a different alcohol made from cellulose... why it’s common name is ‘wood’ alcohol. Compared to what we have here in the US known as ‘denatured’ alcohol, methyl alcohol is HIGHLY TOXIC!

Denatured alcohol starts out as Ethyl Alcohol, exactly the same as the intoxicant alcohol some find worthwhile for its effects when imbibed. To the raw distillate however a small amount of the toxic Methyl Alcohol gets added making it also TOXIC and not to be comsumed! The reason for the addition of course being that by this addition the product becomes undrinkable and thus not subject to taxation as liquor.

NEITHER PRODUCT should be consumed as BOTH are toxic. I’d go farther to add I’d avoid breathing fumes and any significant bare skin contact from methanol.

Try a paint store, ask for shellac thinner. I don’t know whether Methyl Hydrate will work for that but I know denatured alcohol does.

   In the USA, 'denatured alcohol' means ethanol aka 'grain alcohol', plus some additives to make it undrinkable. Methyl hydrate (methanol, 'wood alcohol') appears to be the Canadian equivalent of denatured ethanol for use  as a solvent etc. Methanol smells different, evaporates faster and so feels cooler on the skin. Chemically I would think methanol might be a somewhat less polar solvent, but then distilled ethanol is 5% water (190 proof) so it's probably a wash. 

Methanol is toxic when drunk in any quantity.

You're looking for alcohol to fair out some fillets, right?  It's a great idea and will save you lots of work sanding.  While I'm new to this site I've quite a bit of experience as I did an extensive restoration of an older small yacht.  I've done many inside and outside cosmetic and structural fillets and never used denatured or methyl alcohol.  I was taught to use isopropyl alcohol.  Yep, just plain old rubbing alcohol that you can pick up anywhere.  I've used 70% and 90% with equally good results but prefer 90% when it's cool as it doesn't evaporate as quickly.

Since this is my first post here I'll post a link to the boatdesign.net website where you can get an idea of the restoration that was done.  I did every fillet on that boat with isopropyl.

https://www.boatdesign.net/threads/this-flybridge-came-out-of-my-head.44559/

   Correction: I should have said I like 70% isopropyl when it's hot as it doesn't evaporate as quickly.  I don't see any way to edit comments here.  Good luck with your project.

It's real easy to smooth out fillets without any alcohols of any type. Simply paint them with a disposable chip brush dipped in unthickened epoxy. No problems with availability or potential chemical incompatibilities, nor is it any more toxic than the stuff you're already suited up against.

If you do this right after the fillet is applied, while it's still wet and soft, it will end up with a surface that's as smooth as glass. The most it'll need is a bit of scuffing if further coats of anything (varnis, paint, more epoxy) are going to be applied after it cures. 

Laszlo

I like Laszlo’s suggestion: simple enough, requires nothing beyond what’s already on hand.   

   Thanks for all the suggestions, but I'm not trying to smoth out Epoxy fillets. I'm following the instructions in the manual for finishing my first Kayak. The instruction read,"Clean off the dust with a clean, lint-free clothmoistened with denatured alchohol. Do not use a tack cloth,acetone or mineral spirits as these contain contaminants that will prevent a good epoxy bond." Unfortunately when I ask for denatured alchohol in my local hardware I am handed one of the very products that should not be used, and told it is the same thing.

   Well, for a general clean up before subsequent epoxy coats or paint/varnish, just wipe the surface with isopropyl or simply use water.  You should not have a bonding problem since the epoxy is non-blushing.  Even with other brands that can blush, the remedy is to simply wash the surface thoroughly with soap and water.  I use a Tri-sodium phospate type substitute as it doesn't leave any residue.  Good Luck.

Then in view of what you’ve added above, methanol / methyl hydrate might be your best choice.

90% isopropyl comes in a close 2nd, in that the alcohol will freely evaporate, as will soon the small water component as well.

What’s sold here in the US as ‘denatured’ alcohol might contain any number of inexpensive petroleum distillates as well as the most commonly added adulterant methanol, to render the resulting product free of tax liabilities as an intoxicant. Manufacturers don’t typically tell you what’s in the product as long as it works for the intended purposes for which it’s being sold.

If methanol were commonly available here as a hardware store product I’d have more knowledge about its use for our purposes; in all truth I’ve never handled it. To my mind its most common use is as a racing fuel from what I’m seeing:

http://www.racefuel.com/vp-m1-methanol/

https://www.ebay.com/bhp/methanol-fuel

(And I recall from my teen years how awful the exhaust smells from racing engines burning it, and what my eyes felt like when those fumes drifted my way.)

I’d be surprised to learn what’s sold as acetone might contain contaminants however; in my experience it never leaves anything behind once it’s evaporated... including the oils from my skin that it infrequently comes in contact with. I emphatically do NOT recommend its use in this case though due to its toxicity as much as for its flammability.

   I'm from Nova scotia and used this to clean up dust prior to varnishing when I built my Expedition Wherry. I think I used the stuff you burn in alcohol stoves, like those found on many sailboats. I don't recall whether I bought it at Canadian Tire or at the local yacht shop. It was blue and in a gallon jug. Sorry, that's a little vague, I'm in the US right now or I'd run out to the barn and check. 

Judy

   I should add that I used nitrile gloves and an organic vapour mask in a well ventilated area. I'm pretty sure it was methylated alcohol. I had no problem with the varnish adhering after using it. 

Judy

   I used Bio-flame fuel, it's denatured ethanol. You can find it at places like Home Hardware or Canadian Tire.