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Vaughn,
I cannot be absolutely sure but NORMALLY
thermostat design itself leaves it fully 
open in failure situation.
Who knows ANY broken thermostat in
cars (younger than 10-20 years)?
Problems may occur if the coolant liquid
is NEVER changed. 
In cars most people never do it IMHO.
Just like brake fluid, it should be changed
regularly (let=B4s say once a 1-3 year
to remove moisture and small obstackles etc).
May I suggest you to go some car spare shop, 
keep it on your hand and look at it carefully?
Regards, Raimo
  ----- Original Message ----- 
  From: Europa List 
  To: europa-list@matronics.com 
  Sent: Thursday, November 16, 2006 4:57 PM
  Subject: Europa-List: Oil cooler thermostat
  I would be very inclined to go with a water thermostat, but I have one 
question. If it fails, does it fail closed or open? 
  Vaughn
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