I would wait for official word, but if that's Fahrenheit, I would think that that's not bad. The people at IH seem to push their own mills pretty hard. I've seen one IH mill almost touching the ceiling. That would make the motor, which looks like a TEFC motor, starved for air, and then the heat would be transfered to the head.
[I guess if you were really really worried, and were running the mill 24-7, you could plumb an auto oil cooler, cooled by some 120mm computer fans. You would need a little pump, perhaps for an electric external dry sump oil pump for a high perfomance car, and probably a 12 volt power supply. Stainless braided lines would look neat, but a spin-on oil filter, or at least an inline screen filter would be a neat touch if the recommended lubricant isn't too thick. Making sure there are no chips in the oil during the process would be important, also most important is to find a way to get the oil in and out of the case without weakening it. If only there were something in the spindle case that pushes oil around, you could eliminate the pump, the most expensive part.
Another option would be adding large heatsinks and fans to the sides of the spindle head. On the IHs here seems to be nice large flat areas. For that to work, the oil level inside would have to be in the area that the heatsinks are attached to outside, which seems to be so. The paint would also have to be removed from the case in the areas of contact, so heatsink grease applied between, and then the heatsinks and fans be fastened to the spindle head, somehow, also without weakening the case. The heat would (hopefully) be transfered from the case--to the heatsink--which is cooled by the fans, which could be powered by a big wall wart, like a 1 amp one. The heatsinks could be bought from a surplus place, or perhaps be found in an aluminum pile in a metal yard. I guess you could make them too. Grills would keep your fingers out of fans while you are feeling around for things. I've seen epoxies made with metal filler, perhaps heatsinks could actually be bonded to the case with thermally conductive epoxy. I would put a tape over a corner to create a parting line, so they can be chiseled off with a putty knife if you don't like them. The heatsinks would probably need to be at least the size of the fans (120mm each) to make a difference.
Both of these would probably void your warante.]