Can I use hot mud to create orange peel texture
I have used hot mud in a texture gun. Make sure to run it wet or it may plug the gun and cause problems. If you notice it setting up before the hopper is empty dump it and wash the gun or your gun may be toast. hot mud sets harder than regular mud. Both mixes will work fine and when you have your orifices set you can get the thickness you desire. Just a note never use warm or hot water only cold. warm / hot water will cause the mud to set much faster that's how I know about the gun being toast. I could not clean it out.
Added after not using a sprayer comment: It will be difficult to get a good orange peal with a roller. If using a roller I would strongly advise not to use hot mud because the working time is short it will need to be made up in small batches and it is really tough to sand.