Judging from the GPU temp flow isn't a problem, radiator cooling isn't a problem, only the cpu temps are and even hot IVY's should run significantly cooler.
I would consider, if you have enough room in there and you have access to the back plate, whacking it down to stock, checking temps, then taking off the cpu block, whack on the stock heatsink and checking temps against stock heatsink If its same/worse than stock heatsink.... there is a problem there, most likely with mounting. If its lower with water at stock than the stock heatsink, you could have a bad chip that runs stupid hot, mobo incorrectly setting volts so when overclocking you're simply using way higher voltage than you think you are and that is pushing temps way up.
It would seem, from the gpu working fine, that the problem is mounting somehow. It could be as simple as a dodgy mobo bios misreading temps way to high, seeing as its easy to check(and could even be listed as a fix on a new bios) I'd look into that as it won't take any time at all.
New block, there is a slim chance I guess that where IVY actually sits under the heatspreader could on a block that bows significantly, not be optimised at all for IVY and the contact is mostly over the gpu part of the die rather than CPU. but Ivy is so small I doubt that would be the case. I can't see a new waterblock itself will bring temps down, the best/worst blocks are only a few C apart, though if the mounting simply isn't giving enough pressure for an Ivy, a new block could fix that.
Definitely focus on mounting/cpu fault/mobo reading temp wrong. If that loop can cool a 7970 at load to 50C, it has no flow or cooling capacity problem.
The measured difference between an EK Supreme and Supreme HF is only about 6C, so I'd say this adds weight to your most excellent diagnosis....


