I think what you're saying is that a little water will cool off a lot of exhaust gas.
I got into this a bit trying to keep the reduction gears cool on submarines. These gears handle HPs with 5 figures, and the only cooling for the gears is the lube oil. We quickly realised we weren't dealing with a lube system, rather a cooling system. Unfortunately, one that will foam if it gets 'unhappy' - messy. We learned to work closely with the gear folks and the oil folks (problems with the percentage of snake oil.. - talk about slippery vendors).
In my retirement, I've come to appreciate the lack of phone calls at 2 am. You want me to go where? on a 7 am flight?