here is a website that links you to an MSDS - Material Safety Data Sheet, for Laquer Thinner, which is just a mixture of a number of different organic solvents (toluene, acetone, xylene, methanol, propanol are the most common of the mixture).
The most health hazardous solvent by route of inhalation is 2-butoxyethanol, which has a permissible exposure limit and threshold limit value of 20ppm. This means that the average person can be exposed to 2-butoxyethanol at 20ppm for 8 hours with no adverse health effects. I am a certified safety professional (CSP) and I do a lot of industrial air sampling to assess health risks from overexposure to airborne contamininats and I can tell you that the chances of reaching 20ppm of 2-butoxyethanol (which does not have an extremely high vapor pressure) from small cans of traction compound at an indoor r/c track is very unlikely. It is highly unlikely that traction compound poses any real health risk for r/c enthousiasts.
Methyl salicylate or oil of wintergreen does not have an established permissible exposure limit or threshold limit value, which means it is unlikely to have significant adverse health effects for humans by route of inhalation exposure.
Actually, looking at the health hazard data for the ingredients in laquer thinner and oil of wintergreen, r/c racers should be more concerned with the skin absorption route of exposure than inhalation. The odors are very very unlikely to cause you harm, however many of these chemicals bear the American Conference of Industrial Hygienists "skin" designation which means that they can cause adverse health effects by entrering the blood stream through absorption through the skin. so go to your local hardware store and by some neoprene gloves. neoprene tends to offer the best resistance to organic solvents.
Doug Meyers, CSP