We're saying the physics ought to behave differently
While I'm typically one who argues for more fidelity with real life, there's a problem with this issue in game, in my opinion. This is a very, very complicated facet of engine operation, and I would guess, would be very difficult to model with any sort of fidelity that could be considered credible. There are a ton of issues here. Low powered, rapid decents cause shock cooling which punishes cylinders. High powered, low-speed situations like Military Power climbs and stall fights, that would rapidly overheat the engine in real life, even without WEP settings. Also, the temperature lapse rate would have to be figured in to the equation, so that at higher altitudes, the air is "cooler". Its kind of like saying you should throw less oil by pulling power after your engine is damaged.
Perhaps HTC will say if its easy to implement or not, but it looks like a fairly daunting task to me.
[EDIT] Most of us make fun of the way IL-2 treats this issue, just saying.