Wow...thats sparsely cooled.
Yeah get an Antec Spot cool and see if that helps, I know VRM's are monitored (the are you have circled) because my EVGA board X58 polls the temp and reports it to Everest (though that is now AIDA).
I don't think it is NB temperature, last time I saw a NB get that hot was the Nforce Chips 680 and such.
You can also spend a little $$$ and get some Enzotech heatsinks to paste on there (that is what I do on budget boards that don't have VRM cooling. Gives me peace of mind.
EnzoTech
Though finding them is getting harder.
-ST