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Temp coolant malfunction sounds like the temp sensor connected to the thermostat. Someone correct me if I'm wrong, but this would affect the radiator fan ? When the car reaches operating temperature the fan may not kick in, or may just be running all the time ?
If the fan is running constantly, it's not such a big issue. Reaching operating temperature takes longer, and you do run the risk of sludging the engine if you only do short runs and don't change the oil at regular intervals.
The fan not running is a bigger issue, as you run the risk of overheating in traffic, or at prolonged stops where the radiator has no way of being cooled.
In the big scheme of things it's a pretty insignificant malfunction, why not see what the mechanic at Auto Masters will quote you to replace the sensor ? Or you could have a go yourself, track down a Grandeur being wrecked and hope the sensor out of that is a-ok.
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