Thanks Mike, excellent advice, I have been indecisive for days about sending it to nick. I am going to contact him right now.

Thanks for the info guys. And I think I will invest in a fan, but this was an interesting one. After checking all the wiring etc, put bike back together and temp light was still coming on as soon as I revved it. Then I noticed the blown headlight. Replaced the headlight bulb and this fixed the temp ...

I know this is an old post, but was this issue able to be resolved. My crm250ar is doing the same. Even from dead cold, the temp light comes on as soon as I rev the engine. I was going to try and find a new voltage regulator, unless anyone has a better idea.