Predator

Ahh.!
Thats really good and detailed explanation.
Thanks to you both.

LOL...:-):-)

and why sulfur is not present here, many strobe compositions contains sulfur or metal sulphate in it.
Also dextrin & GA is present in this formula then why to bind this composition with NC?

There are lots of red strobe compositions which use Strontium Nitrate, lots of formulas come up if you do a search here. Here's a random one.

Strontium Nitrate 68.87%
Magnalium, granular, -100 mesh 22.50%
Parlon 3.44%
Dextrin 1.72%
Gum Arabic 1.72%
Copper(II) Oxide, black 0.87%
Copper(II) Oxychloride 0.87%
Bind with 10% NC lacquer

They don't tend to quite as good as AP-based strobes but you can certainly make something useable.

what is the role of black Copper oxide in this composition?
why sulfur is not present here as many strobe formulas use it?

Thanks for reply Mumbles

Too much moisture isn't the problem.  The real problem is staying wet too long.   It's quite easy to cut glitters with 30+% water and have them function perfectly well if you dry them in a reasonable amount of time.  It should be noted that even with the same formula, the effect will be slightly different between cutting, rolling, and pumping. 
 
Also, glitters are particularly sensitive to binding conditions.  Red gum and parlon kill the effect quite well.  I've seen some people have luck with other non-aqueous binders like PVB (I think) and possibly some phenolic resins.  Not all are created equally though.  You'll have to try them out and see what works.  NC will probably affect the glitter phenomenon as well.  Forming the sprizels is surprisingly touchy.