I think it stems from the use of oakum used in slow match for firing cannon or musket. So, assuming I’m remembering correctly, you have your slow match of oakum with it’s smoke and it’s used to fire the cannon. Smoke and oakum.
(I’m probably totally wrong about this, however, as I’m sure there will be several 'dopers pointing out after this post :p)
Yeah, I was wrong. It was used as packing material, among other things…but I don’t see any relation to slow match or fuse.
So, my WAG on the smoke and oakum thing is that it is used all around the ship and it seems pretty flammable especially when used with tar…so, perhaps O’Brian or whoever he was quoting was talking about the possibility of ship board fire running rampant.