Sort-of memes that are cracking you up at the moment

aluminium powder and iron oxide

That's one of many possible thermite mixtures. Again, we need to stress the vast difference in effect between deflagration (what thermites do) and detonation. Much research on propellant compositions (solid rocket fuel, artillery shell propellant) is given over to ensuring that they are highly resistant to deflagration to detonation (D2D) transition, following some disastrous magazine explosions in the world wars. Examples of unwanted D2D events include Beirut where poor storage turned what should have been a warehouse destroying fire into a city destroying bomb, and Kentucky Ballistics life threatening .50BMG chamber detonation.

When you watch Russian T72s brewing up, the 20 foot roman candle out of the hatch is the propellant charges (5-10kg per round) deflagrating. The turret toss is the much smaller mass of explosives in the HE and HEAT projectiles detonating.