although you can eat the fluff found in your bellybutton, the only kind of person that would recommend that you actually do eat it would be one with questionable ethics and a bet going on with someone behind the scene. so I'd say yeah, go right on ahead and eat it, but let me know when you have so I can collect on this bet.
bellybutton fluff only appears to be dark blue or black due to hormones. Trust me, its hormones.