Those thermostats have a 'controlled leak' built in through out the temp range. It's designed that way to keep a small amount of fluid flowing though the cooler all the time to keep it "primed" so to speak. That way it doesn't just sit empty all the time and then get a big gush of
oil when that thing starts to open. Makes for a lot smoother transition, more stability to the temps, and keeps air out. So let's say your
oil gets up to 130...Not showing on the gauge (140 and up, right??) but don't you think
oil at 130 is warm to the touch? Because of the 'leak', you have 130* oil in the cooler. How's that?