Adding it before heating would only cook it off..
And if indeed it is water based Do Not add to raw plastisol before heating. Make your biats, let them cure day or so, then add BaitFuel to your bagged baits. But only do samples one or two baits, because you don't know what effect Bait fuel will have on finished baits. over the long term Once you see it's harmless, feel free to add as much as you want to your bagged baits.