I found the hotter the
oil, the lower the
oil pressure. As you were maintaining reasonable
oil pressure, hopefully that means the sky high oil temp hasn't done any lasting damage. After a couple of laps of Qld Raceway, my Ford motor's oil temp was at 140+ degrees. An oil-rep mate of mine said it was at the upper limit of the oil. Exactly the same combination on the street never got anywhere near that temp, so I wouldn't worry further if you're not planning any more track time.