Sounds to me like you should get a box ready to send it back to castle if you're going to do that.
The MM runs fine on 5S
if you are running the right motor and you are geared properly. 7XL + 5S + 24T = so far away from a good (read: reliable) setup it's not even funny. More than likely when it fails it won't be hot, that's because it'll fail before it gets a chance to get hot.
Now, with that said, I'm currently running a 9# emaxx with a 5S1P A123 pack, 10XL, geared 19/66 on a MM. It draws about 85A max. It runs cool, and i'm not worried about blowing anything up. Top speed is probably 28 mph, but that's fine, because:
1) I don't like blowing stuff up. The truck is of no use to me on the bench
2) The MMM will be out very soon, and then I'll let all hell break loose.
Right now it's set up to run within the allowable parameters of the ESC and leave me some safety margin. Besides, it's torquey as heck and IMNSHO, using a MT for speed is just silly...if you get it set up properly for speed, it sucks as an off-road vehicle.