Sorta like how iodine can be used to check if starch is present or not, without telling you how much starch, or what kind.
I think this is a myth. I put salt on my weetabix once and nothing happened.
Potassium Iodide is not the same as free iodine.
Also, it is incorporated in small amounts in iodized table salt, not large amounts.
@Trekkin-
Agreed, it is not going to give you a strict, nor high confidence. What it CAN tell you, is if you have a fairly strong formaldehyde signal or not, which should prompt you to either "think better of it", or, if you are still genuinely curious, send a sample to an analytics lab, and ask for a bulk constitutional analysis along with another wad of bills.
Why bother with the latter? Evolution of methanol instead of ethanol could be indicative of either contaminants in your fermentation equipment, or improperly regulated temperature/light exposure during that process. It can help you to know what exactly when wrong so you can fix it.
@palazzo
Fermentation (especially home-brewing) is a very... Hmm... poorly controlled reaction process, with lots of improperly controlled/unrepeatable variables. Ideal fermentation produces very little if any methanol. However, since we are not likely talking about well controlled batch processes here, the possible addition of unwanted organisms during processing, etc-- there is a risk of producing undesirable substances, methanol being one of them.
You find this more with sour-mash style fermentation, which is why making moonshine is such a dangerous thing, and why you cannot sell moonshine. However, since wine making ALSO uses wild yeasts, the potential exists, but is less pronounced.