Because of the good electrical conductivity and high stability in the face of short-circuit pulses, exothermic welds are one of the options specified by §250.8 of the United States
National Electrical Code for grounding conductors and
bonding jumpers.
[4] It is the preferred method of bonding, and indeed it is the only acceptable means of bonding copper to
galvanized cable.
[3]
Well, IMO, its possible, but not probable to find nano thermite material as a result of any exothermic welding. Not saying its inpossible, but the flux you are referring to would have to be cleaned up after the process was complete. The likelyhood of finding it nearly 30 years after the building was built is slim. Additionally, any bonding that required that level of connection would have been where the main power substation and transformers were, far below in the basement.
Frank