There is good scientific basis to catalytic cracking of hydrocarbon chains. However, even the most advanced lab tests need on the order of 260 deg C to have a usable reaction rate. Heated coolant is only going to be around 100 deg C and below.
There is another form of fuel modification where the catalyst is introduced into the fuel stream. This has been done for decades. However, this would mean the system runs out of the active ingredient at some point.
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