While cytokinins on occasion do prove to promote seed germination, sometimes they also inhibit germination.
They aren't a good general purpose seed choice. The ones you want for such purposes are the Gibberellins (cell stretchers), Potassium Nitrate (of course!), and vigor boosters. Some I've 'uncovered' are Atonik, Brassinolide (a 'brassinosteroid'), Chitosan and Salicylic Acid (SA). SA is whats in willow that while not a particularly ideal rooting hormone (it doesnt actually signal root growth) the vigor boosting effects it causes works wonders on STRESSED little plant cuttings.
For over a year I did exhaustive research, oh it was so mundane and tedious, to deck out all the PGR pages with seed germination data an item of particular interest. The goal was to make the ultimate lab PGR seed germination kits so I set out to show the data to figure out what might go into a 'deluxe' sort of kit. Whew over 12 months later that work was finally sort of 'done'. I did scour every possible paper, book, etc I could find I wanted to really 'prove' which ones were good where usually only Gibberellic Acid GA3 (and sometimes Chitosan) gets such recognition.

6BAP is a high grade cytokinin.

GA3 had 6 pages like this from the same research methods / dataset.
The rest of my research is loaded into the product pages:
http://massspectrumbotanicals.com/category/horticulture-aids/plant-growth-regulators/http://massspectrumbotanicals.com/category/horticulture-aids/plant-biostimulants/Out of a great many many species potentially in the data, with the cytokinins (same with the Auxins) I really only found maybe 20 or 30 for each one I sought after (and I had economic motivation to do so). Compare this with GA3 or KNOH3 there were over 5 full (small print into image files) pages each (several hundred each). And with these ideal substances I never noticed inhibition effects, but with the cytokinins it really started to stand out with certain species as I dug into it all.
Oh, and there were many test I saw with the main cytokinins while some of the other more exotic ones I mentioned there hadn't been a whole lot of testing actually done that I could, for seeds, but its important that I didnt find much suggesting they ever really caused much inhibition in the studies...
HOWEVER, treating the sprouted seedlings with the coco water will assuredly boost their growth assuming you dont under/over dose them (overdosing with PGR's typically means inhibition of what should have been boosted). Coco water is a great PGR product, except that you cant really know what dosage you're actually giving them. Usually this might not be a big issue, but when big money is on the line it can be and this is where the pure grade chems come into focus as you can dial in specific PPM ranges and conduct real science.