Well, from what I understand, things with the flammable label can ignite more easily at lower temperatures, or give off flammable vapor. Some oils and low content alcoholic beverages do not fall in the same category and are lower risk. TSA separates alcoholic beverages into 2 limits of 24% and 70%. Anything above 70% is not allowed on a plane.
It's the same with some of the dry chain lube with the flammable label. I don't think you should take those onboard either.