The felt hole is a region of spacetime in your lighter from which the felt covered fluffy cotton prevents anything, including lighter fluid, from escaping. If there are spare flints orbiting the felt hole, Zippo uses their orbit to determine its mass and location.

What is the hole in the Zippo for?

The packaging for zippo lighters has an instruction booklet that advises putting spare flint in the bottom section of the zippo like you say. So yes! It does!

What is the screw on the bottom of a Zippo?

On the bottom of the inner lighter you should see a brass flathead screw, this is the bottom of the flint tube, unscrew the screw and take out the screw, there will be a spring attached to it.

How do you lift a Zippo felt pad?

Remove the felt bottom and expose the packing material in the unit. Insert a screwdriver into the small hole in the felt bottom. Once its lodged in the hole, pull up on the bottom to lift it away and reveal the packing material inside.

What happens if a lighter blows up in your hand?

A lighter could blow up in your hand, but only if it was leaking or very, very hot! And heating the lighter up will expand the gas, which could pop the lighter, and if it pops near the heat source, that can make a dangerous fireball.