Hey brevven,
I'm playing with the full suite of BZ mods + K2 (+AAI too), and I'm finding that Phenol produces way too much Coke and there's seems to be no reliable dump for it (but I suppose Coke liquefaction could be one such dump, if push comes to shove :P)
To be fair, perhaps it's the situation in which my factory is currently in: I just implemented T3 modules and it's been making them for some time, but all the other parts are currently idle, i.e. no steel nor tungsten carbide consumption at all. And I'm playing without biters so no Coke for Science either (even then, military science consumes so little coke that I don't think this would matter.)
As an example, in the time it took to produce ~600 T3 modules, I accumulated about half (AAI) storehouse of Coke (~23K) and it keeps going up, and I'm a bit worried that it'll be a reason for a future lock ups, in case it remains unbalanced even when the rest of the factory works at full... since Green circuits is such an enormous part of all the production, it'd seem that the Phenol tied to them will be producing Coke all the time. I'm not sure if it will balance out in the end, for the moment I can expand the storage and hope for the best!
Just wanted to post about this to let you know that maybe that recipe needs a bit of tweaking... but it's just an opinion based on partial information atm.