Now just to be a dick, I'll scrutinize some more!
Olive oil??You must've seen the mess coming
Most crazy enthusiasts use mineral oil instead - it's a hell of a lot cheaper too.
ETHANOL?!You must've seen the explision and flames coming
Electricity + flammable liquids = inevitable disaster.
Sure, submerged in ethanol is probably fine as, like gasoline (petrol) it's the gasses that are actually combustible rather than the liquid. Still, there are far better options.
I think you're going to have trouble selling any components that have been submerged in anything other than plain old air.