Good Morning,
You are absolutely correct with the placement of the cooler over the exhaust. So here is my thought process, Lonny's original cooler was in the same position and it was nearly 1/3 of the size of my cooler. His cooler has worked well even after disconnecting the fan for it and providing no additional air ducting). The other thing is with the combined mount for the cooler and the exhaust I was able to move the muffler back and changed the angle of it. (Not a huge difference, but what it did for me is give me additional room to run a plenum from the drivers side of the car directly under the cooler, ducting the air through the cooler and out the top). Another thing I have been working on is moving the main fuse block from the engine compartment to the front of the car -just a matter of reducing the wiring from the BCM to the fuseblock and extending the engine harness. (There is a void on the passengers side of the car above the passengers foot well -Lonny's car has the HVAC equipment there.) If I can get it to work the main fuse block would be under the bonnet(hood) out of the elements and it would open up the engine compartment for a full set of ducting to the engine and cooler. So, short answer placement not optimal but functional PLUSes short hose runs, solid mount, larger cooler, and the ability to run cool air ducting to it. Also running the lines under the car was not an option for me. MINUSes heat from the exhaust when the car is not moving lack of air flow.
Bruce