Yep- - - -which is a good thing- - - -actually more than that, if you understand chemistry. Peroxide is water with an extra oxygen atom, (H2O2). It's also very unstable. The heat of the combustion chamber makes that single Oxygen atom detatch from the peroxide. "Mono-atomic" oxygen is not a normal state of affairs. If the single O atom finds another one, it combines to form gaseous Oxygen (O2). If it finds some fuel, it's going to be like a sailor on shore leave- - - -out to combine with something, and it doesn't care what! Either way, peroxide makes more oxygen than a similar volume of Nitromethane. The remaining water flashes to steam, and cools the piston crown, the valves, and the spark plug tip. Alcohol-fueled engines run very well at extremely high compression ratios. The old flatheads my family ran were up there around 11:1 or so, and engines with better combustion chamber designs can go much higher on the compression. On days with very low humidity, a couple of 6-ounce Coke bottles of plain water got added to an 8-gallon fuel tank. The slang term for peroxide-enhanced fuel was "fuel tank supercharging"!
Jerry