You can cook grenades. Grenades are thrown when you release the button.
For a molotov that means you select it with the D-Pad (instead of the grenade button) and throw it with the actual grenade button.
Thanks for the quick response! To throw actual grenades do you cook by holding down the grenade button and when you release it is thrown?
I might have to rethink using B as my grenade button. But really the only class that should be throwing lots of grenades are soldiers, and I don't currently anticipate playing that class too much.
Hmm ....