The dangerous thing is "pure" oxygen under high pressure in the presence of oils.
KABOOM
Edit: the OP is planning a Homefill setup, so that definitely counts as high pressure. I'm planning a HVLP system and will not be spending much time cleaning parts with acetone.
Edit2: O2 safety guidelines:
https://www2.le.ac.uk/offices/safety.../hse8.pdf/view (file too big for this site).