tom57, I recently built a
Penny stove, which is a can stove of an even simpler design than the one you made. (And it is very easy to make, too. Even I could do it)
It does burn with five fairly bright blue jets, regardless of whether there's a pot on top.
Yellow flame indicates mostly incomplete combustion, meaning that the alcohol burns at a fairly low temperature, which is also why the flames are larger. It simply takes a longer time for the flame to combust completely.
The cause is a lack of oxygen, but that does not provide a clear reason why your Pepsi can stove doesn't provide enough of it. It could be as simple as the exhaust holes being too small (mine has five, each about 2mm in diameter), the ambient temperature being too low so the alcohol doesn't boil (and you should be able to hear a distinct boiling sound), which means performance
should improve after a few minutes, or the spirits you used having insufficient alcohol content. Or a combination of all these factors.
I want to encourage you to keep experimenting. It is both possible and desirable for a soda can stove to burn 'blue', and a little experimentation should help you hit the mark.