Cocoa butter has an exceptionally high melting point for a vegan lipid.
For most baking applications, it probably not ideal; you would be better served with a liquid oil, or if you need something solid but malleable, a hydrogenated vegetable oil product like a vegan margarine.
The main culinary use (in general) is thinning chocolate in creating chocolate coated candies or similar, which makes sense as cocoa butter is one of the primary components in chocolate. Of course, when it is hardens and is in temper, it is literally as hard as chocolate.
Otherwise, you can fry or saute with it, although it would be easier to do so if you purchase cocoa butter grated as it is normally too hard to scoop at room temperature.
If you melt it (and it will melt just below body temperature), you could bake with it, but you may get a different texture than you expect, as when cool, it is much harder than other typical culinary fats. You will have to experiment and see what the results are like.
It will be too hard to use with creaming method recipes.
Any time you see something like "may contain" after an ingredient list, it's a warning that it might contain trace amounts of that substance and so could be harmful to anyone who's allergic to it. Basically what they're saying is that they didn't intentionally add any milk or milk products to the cocoa butter, but since they make other products at the same factory that use milk they can't guarantee that some hasn't slipped in somehow.
So assuming that cocoa butter is the only ingredient then it would be pure cocoa butter, at least by the legal definition.
Best Answer
I think you may be looking for "white chocolate" rather than pure cocoa butter. Cocoa butter doesn't have a huge amount of flavor; it's added to things largely for its texture. At the very least it generally needs sugar and vanilla.
Ghirardelli and Torani both make white chocolate sauces. Is that what you're after? You can make your own by dissolving white chocolate in sweetened condensed milk, which is dense enough that you don't need an emulsifier if you grate it finely and stir.
I'd use this recipe as a starting point. (Omit the coffee powder) http://www.food.com/recipe/white-chocolate-mocha-syrup-recipe-376916