It seems I condemned the coconut yogurt experiment to failure prematurely. It turns out it actually did make yogurt. I discovered this when I was trying to figure out what to do with the coconut milk. I'm not saying that coconut yogurt is the tastiest thing in the world but, thanks to Annmarie's comment about coconut milk being good in pancakes, I discovered coconut yogurt makes really good pancakes...if you like coconut.
I substituted the coconut yogurt for both the liquid and the oil in my usual pancake recipe. The result was a delightfully fluffy, coconutty pancake.
I tried a second batch adding nutmeg as the recipe for Coconut Pancakes in Vegan with a Vengeance suggested and I wasn't crazy about the results. I thought it tasted odd but the other coconut lovers didn't seem to mind.
If you're in the habit of making pancakes on the weekend, make a double batch next time and use the extra for weekday breakfasts. We just pop them in the toaster oven for a quick breakfast on the go, which is the only breakfast we know of on weekdays.