I've asked many people (including here) and it all comes down to where you read the temp and who you ask..
Some Trans places say "keep it under 150F" which doesn't tell you much.. Keep the temp where at < 150.. Also, different parts of the country will end up with diffrent temps..
For example.. I can go out to the truck that hasn't been driven all day and have a pan temp of 130F when it is 105F outside.. In my case, keeping the pan temp at < 150 isn't possible..
I just look at "what is normal" temp when on the freeway and figure about another 10-20F when in town with the converter not locked up.
Fluid starts to break down at about 250F if I remember correctly, but what I haven't been able to find is how long it has to be at 250 before it has a problem.. If it at 250 in the converter, but then cools back down at the coolers, is it ok?
Just to be safe, I change my fluid (what is in the pan) every 2 oil changes (10k-12k miles) and the filter every 20-25k miles. Even though I've seen my pan temp hit 190 (really hot days, in town) The fluid has never smelled burnt or looked brown (just not as bright as it was going in).
I am running 2 coolers (one plate, one tube/fin) with a pusher fan from a Toyata 4 runner to help in stop/go traffic (only runs when my converter isn't locked). My front Cooler is far enough away from the radiator that the engine fan doesn't really pull the air across it so I added the extra fan (it draws 8 amps when running)
It may be time to try to make a thread specifically for Trans temps and make sure people put the ambient temp and where the sender is.
Oh.. keep in mind, my temps are also high because I'm running a 700r4 and the flash stall with my current converter is almost 2800rpms.. and its Darn hot in Southern Arizona.. But in general, my pan temps are about 70F above anbient temp on the freeway and 80-85F above ambient temps when in town (when its 105f+ out, that gets the fluid hot).
Here is a pic of the gauges I use (I watch temp and pressure since I have a TV cable that "must" work or I will kill the trans) and of the coolers
~Mark