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Spectral Flame = The tool used to apply it.
Halloween Fire = The attribute as it appears on flamethrowers.
That being said, the bp.tf prices are for unapplied spells. Spells do add value to items, but bp.tf doesn't indicate it because the value they apply is inconsistent and varies greatly.
Really if you did want to sell it, you would need to ask yourself how fast you want to sell it. Just because something will sell at a certain price doesn't mean it will sell fast at a certain price. You could probably get a key for it, but you might need to wait months for it to sell.
On the SCM, Strange Flame Throwers tend to sell for 20 cents. Meanwhile the cheapest one with Halloween Fire on it costs $2.18: http://steamcommunity.com/market/listings/440/Strange%20Flame%20Thrower?filter=%22Halloween+Fire%22
Additionally there are only 10 of them listed with the spell out of over 300 listings.