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You're more than welcome although I'm sorry I was off my computer when you asked this additional question.
I've not found that skin lesions such as hot spots actually heal much faster if coconut oil is directly applied to them. However, if that's not your experience and you wish to continue using it, there shouldn't be problem with excessive absorption causing any problems for her.
Another option would be Vetericyn Spray which is safe even if ingested. I've also found it to be quite effective for a number of skin lesions in my patients. It's available at many pet/grain stores or online.
I think it might depend on how itchy she is as to whether you should leave the cone on or remove it.
If you remove it, then she may overgroom and create more lesions. I'd probably continue to leave it on for a few more days until the hot spot has healed. I'd also continue topical treatment as you are currently doing. Deb