While I don't know anything about the recipe, the only thing I'm concerned with is that coconut oil is saturated and therefore solid at room temperature vs an unsaturated fat (like olive) that is liquid. Any paleo-friendly oil should work, but the texture will be different. That could be a good thing, it could be a bad one. I say just experiment.
You can probably use any oil you would like in a bar. Just an FYI, if you are a Costco shopper, they carry huge containers of Nutiva, a really nice coconut oil for a great price. The last time I purchased it, it was 78 ounces for just over $20.
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