You would only expect it to run hotter if you were exceeding the capacity of your cooling system. If not, the system would stay at the temp set by the thermostat. Track conditions can put a LOT of extra heat into the system. It can be enough that the cooling system has a hard time keeping up. In those circumstances you would see a lower temp with water wetter than without. You would not see any difference in normal street driving.
Using the water wetter will not lower your preset (thermostat) operating temp range, however I did notice a faster heat exchange taking place. Basically as the car sat idle the coolant temp would go up, as soon the car starts the move the temp gauge moves down much quicker than prior with just anti-freeze.
