Interesting concept there... My only issues would be with connection strength, both electrically and physically.
Depending on the poi that you're spinning, you can be pulling quite a bit of centripetal force... This makes it paramount that you have a decent connection between your poi and the cords. If one spins off, and catches someone in the head (or the crown jewels), then it's safe to say that they're going to try and hurt you. Twice.

So the first thing would be ensuring that you can get a good, strong connection going that's not going to break or come apart easily. The second thing that would worry me is the power pack and the electric connections to the cords. How were you thinking about getting these to light up? You'd have to run a wire from each to a battery pack (most EL runs at about 10 volts, i believe), so that's got to be factored in. There's the weight of the power pack if you're going to be spinning with them as well, and the repeated spinning and twisting can weaken the connections as well.
Sure, you're not going to feel anything under 60 volts if it does come loose, but if you're dealing with fuel and there's the potential to make sparks.... Could end badly.
The last thing that came to me as I was typing this is the actual wires themselves. What are they made of? If you're spinning with fire, then are they going to melt/stretch/distort? If you're spinning with LED poi, that should be fine, but the material itself may not have a heat rating high enough to withstand flame... And of course, the fuel as well - will it dissolve/erode/weaken the structure of the wire?
All things to consider.
Something I did think of as I was writing this was a bit of fibre optic tubing. Think of the fibre optic ornaments that you get at the dollar shop or whatever, where you can see the light in the cords. If you could somehow wind that through a standard chain, maybe weave or plait it into the links, then it has the potential to look very cool. Plus, they could run off a low voltage LED (cold operation as well) and a smaller battery than a 10 volt powerpack. Could be worth looking into.
