Remember I’m asking if it removes Vinyl Paint NOT Vinyl Dye. Both completely different.
I’m not sure about specifics but anything that contains acetone will normally break down paint and glue, which is why nail polish remover works on superglue bonded items. However it’ll also break down plastic. Vinyl is a plastic if I recall correctly. I guess that means it’ll probably work on vinyl paint…
…while melting away a hole through whatever plastic you painted with it, much like an acid.
Not sure though but I don’t think it’s a good idea. Best to test it out on something you don’t care about first.