It sounds very good ti me! "Instant heat" is like the compost sounding trumps and playing fanfares: you've given it everything it needs or could desire. Carry on in the same direction!
The holes in the bottom of the basket should let worms enter once it cools down enough for them.
BTW, the mix sounds so rich that maybe, if you can, position the basket where any rich "drippings" will enrich the soil that you want to enrich. They'll also attract worms to the area under the basket.
If you want to increase the amount of compost at the expense of speed, add more straw, sawdust, paper or other "browns". It sounds like you have lots of rich kitchen waste, which could enrich lots of low-N "browns" to give you even more organic matter to feed to the soil.
I put every napkin, paper towel and coffee filter into my kitchen waste to take maximum advantage of every nitrogen molecule in the scraps. Of course, I never see my pile heat up noticeably, let alone see "instant heat"!
And I keep intending to shred some newspaper into the pile.
