I would ditch the oem one...but make sure you get a thermostatic plate adapter. I used an auto tranny cooler on my corrado it worked awesome!
You could do something like that using a temp sensor and a motor from a car with flip up headlights! Once temp would be reached the switch would send a signal and open the flap (or scoop) and if the temp dropped it would close.....thats actually a good idea!!!
With the right sandwich plate there's no reason for flaps, temperature sensors etc... the plate only routes oil to the cooler when cooling is required.The el-cheapo sandwich plates (as found on eBay for example) generally don't have a thermostat... the good ones (including those found on older turbo Volvo engines which bolt right on to our engines) do.