I guess I dont know much about snake genetics, but what do you mean they aren't alleles? and that the end result would be a caramel? Can you explain your thoughts behind that?
I took it as, the caramel cancels out black. The Albino cancel's out all pigment except for yellow. What could be left over after that when the albino allele would only leave yellow?
Unless the caramel also dilutes the yellow pigment, you may end up with a unimpressive albino.