This subject didn't leave me overnight, so here's some thoughts. Notice that I'm by no means a Master of the dark Art of Finishing or anything like that, this is just logical thinking based on elementary public school physics...
Great wisdom there. Any liquid becomes runnier when it's warm and obviously a runny fluid levels faster than stiff.
Warming a rattle can servers another purpose as well: The gas within expands and causes higher pressure at the nozzle, thus lowering the viscosity of the lacquer and slamming each minuscule droplet flat on the surface with a higher velocity.
Speaking about viscosity, the product used for finishing should be runny enough to fill any pores and gaps for good grip and level finish, yet it should be stiff enough not to run off the surface to be finished. Further, especially with instruments, the layers should be thin enough not to ruin the sound. Thus the instructions for a glass smooth resin finish done by pouring don't apply here. It's either spraying or wiping, and sanding in between and after that we have to do to achieve the results we want. Thinners are used for controlling the viscosity.
Air is in a significant role in the drying process as is the evaporating surface versus thickness of the layer. When sprayed, the surface area of the lacquer is at the largest in its mist form right before hitting the surface. Thus, the farther away you spray, the drier the mist is on the guitar, in warm/dry conditions even more so. That may be one reason for the bobbles, another being the slow spraying speed and high viscosity caused by a cold rattle can.
Yet another thing to consider: As we know raindrops need a dust particle to form. Just how much microscopic sanding dust do you have in the air of your workshop? Imagine every mist droplet of finish coming through the nozzle having a dust core! Bobbles...
Short (hopefully) summary:
warm finish runs easier through the nozzle and levels better on the surface
high pressure lowers the viscosity of the finish as well
a thick layer of stiff finish causes orange peel since the bubbles bursting on the surface don't level - add thinner or heat the lacquer for lower viscosity
a longer spraying distance causes the finish partially harden during its flight through the air - bobbles
a longer spraying distance also allows more dust to attach to the sprayed mist - more bobbles
high temperature and dry air while spraying make the finish cure faster, partially even when it's still in the air as mist
microscopic dust attached to minuscule lacquer mist droplets can cause issues
So the recipe for a good sprayed finish is to use warmed lacquer sprayed at the right distance considering the temperature and humidity of the surrounding atmosphere.
I may be terribly wrong here and there as my logic may fail. Please correct where necessary!