I use to make this exact same smoke bomb with one difference. Here is my recipe:
1) Mix dry ingredients in a 1:4 ratio Potassium nitrate/ cane sugar.
2) Add dye if you want to.
3) I never cooked mine. This is kind of dangerous and the wife might get pissed if it ignites.
4) Pour into a toilet paper card board tube.
5) Add underwater demo fuse
6) Wrap with duct tape.
To make the bomb burn faster my buddy use to buy magnesium tape or strips and put cut up strips in the center of the bomb next to the fuse.
Enjoy.
I lit one of these in the stair well when I was in high school- It worked GREAT!