I noticed, when I used to rebuild my protanks, cotton pops more than any other material. Popping really is more a function of a new coil than it is of any danger sign. The burnt taste could be a couple of things. It could be the cotton not being primed, as RubyRoo suggested, or it could be the height of your coil over the insulator. If it's too close to the bottom insulator, that heat is going to have a melting effect on the rubber insulator, not necessarily actually melting the rubber, but heating it up and giving you a pretty nasty taste, as well. Make sure your coil is as high as it can be without making contact with the metal stem on top.