Oxygen is only 1 piece of the 3 piece fire triangle, it breathes 'life' into the fire, but it is not the fuel. If you take oxygen and give it fire, the oxygen itself does not burn. It simply makes whatever fuel it is burning, burn that much faster. Hydrogen is a flammable gas, oxygen is not. That's where the term "oxidizing" comes from. Safe materials for oxygen handling are silicone, brass, and aluminum.
For an example on how oxygen makes fire work, find some oxygen, put a match or cigarette in front of it and let the gas out. The fire will flare up and the match stick/cigarette will almost instantly disappear but will not 'chase' the oxygen source.
Much like an engine, you have fuel + air + electricity = fire

So, if you have oxygen being pumped down through your air assist, it will make whatever your cutting MUCH hotter, but it will not have a 'ball of fire' crawl up into your lens or into your tubing unless your cutting something that produces a flammable gas that could go into other places.
Oxygen + heat is very dangerous and you should be prepared for how dangerous it can be. I've been in the oxygen industry 10+ years, so I thought it might help you guys out some to know the what's what.
