To quote wowhead:
Hot Streak Rank 3
Any time you score 2 spell criticals in a row using Fireball, Fire Blast, Scorch, Living Bomb, or Frostfire Bolt, you have a 100% chance the next Pyroblast spell cast within 10 sec will be instant cast.
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Thus, only those spells' crits (and, more specifically, only Living Bomb explosion, not tick, crits) will count for/against the Hot Streak counter. You need not worry about any other spells upsetting the counter, including Molten Armor.