Does blending oil (for vegan butter) make hydrogenated oil?
Oil is hydrogenated by bubbling hydrogen through it at high temperature (on the order of 400 to 500 degrees F), in the presence of a catalyst such as nickel.

Air is 0.00005% hydrogen, you are probably not using temperatures high enough, nor doing it for a significantly long period of time, nor having an appropriate catalyst present.  The amount of hydrogenation introduced via this recipe is somewhere between none and vanishingly small.

However, coconut oil itself is about 92% saturated fat--which means the fats are naturally saturated with hydrogen.   While a natural saturated fat, not a manufactured one, coconut oil is saturated.

If your recipe is delicious and you enjoy it, eat up in moderation like anything else (chocolate excepted).  :-)