I can see the fans are exhaust ones. That's why I am sorta concerned: Does the airflow go out through the top fan or does it go through the CPU cooler. See, the two fans are competing about the air coming from below. Does the airflow continue directly out of the top or will it turn towards the rear? Supposedly it depends even on the temperature. Hot air tends to rise, cool might be better conducted.
Another thing: is the side of your cabinet open? If it isn't, get rid of the door or at least keep it open while gaming.
As for the CPU cooler, two things: 1) If you have thermal paste to spare, detach the cooler to see whether the paste has spread all over or not. 2) Modern processors will slow down if needed until a tolerable temperature has been achieved. They won't overheat easily. But in any case, recheck the seating of your CPU cooler. It shouldn't wobble. By looking at the pictures it seems it is fastened by 4 screws to a backplate, so it shouldn't wobble. The heat pipes may twist, though, but unless you twist them to the point the metal fatigues and breaks there should be no issues. The firm hold against the CPU you mentioned is the most important thing, seconded by not letting the coolant run off the heat pipes.
Oh wait! You were talking about the PSU, not the CPU. There's no real problem with the PSU fan facing upwards, getting the air from below just might keep it a little cooler, thus prolonging its life span. Also with the PSU fan facing downwards it won't compete with the GPU fan. Airflow again!
