Burnout is the situation in which coolant on the surface evaporate and dry surface is seen. As the heat transfer to vapor from a surface less, the temperature increases. beyond some level the material may fail.
in the evaporators of the cooling systems like Refrigeration and air conditioning plants, as the temperature reached in the event of burnout is very low, it does not lead to an accident. Whereas in the case of boilers or Nuclear plants, burnout may lead to an accident.
Please, I suggest you consult the following excellent sources (in print), among others, to find the complete answer to your query:
Tong, L.S. and Y.S. Tang, “Boiling Heat Transfer and Two-Phase Flow”, 2nd Edition, Chapter 5, Taylor & Francis, 1997; and,
Bergles, A. E., J. G. Collier, J. M, Delhaye, G. F. Hewitt and F. Mayinger, “Two-Phase Flow and Heat Transfer in the Power and Process Industries”, Chapter 9, McGraw-Hill Book Co., 1981.
The temperature lets the matter release electrons, burning is the process of the oxygen atoms absorbing the energy released by the heat, and recombining them with other similar atoms.