Same deal here except 1.6 and 3" exhaust no intercooler, 15psi. Also, you are braver than I, 1600F
I stop a 1200F
The Giles pump dumps it. I turned my max fuel down, rotated the boost pin to the least aggressive slope, upped the tention on the star wheel*5 turns up*, and turned down the torx bolt on the LDA to give more off boost fuel. If it is really cold my egt's aren't a problem in 1st and 2nd gear, but 3-5 it will climb if I let it. If it is warm 1st is the only one that winds out before egts get up there. Any time I come to a hill I can't go from low rpm and give it more than 1/2 pedal I was hoping an intercooler would help, but you are saying no
I have no smoke though. When I hit 15psi it slows the assent of egt, but doesn't stop it unless there is no hill. I could never let someone drive the car as is without a training course on how not to melt it down.
I think Giles didn't do the governor mod in our pumps as mine starts to loose pull around 4,500 and looses boost at 5,200. My oil temps are usually cooler than 225F, but I don't think 240 is bad. I am with you on the running properly. I can get mine to run good, but EGT's are too high. As is it is way better than my GTI and N/A, but I figured a normal TD would be that. I feel I am getting closer now, but the more the fuel screw goes down, the less performance I have. I just thought it was because I never owned a TD before and have no clue
Good luck. I would say first call Giles and see what he says. If that doesn't work the biggest help to me was the starwheel tension and rotating the boost pin. Backing off the main fuel really didn't make as much difference as those did. But the way yours smokes off boost it might be better for you to try the main fuel screw first.