+1, l had a black ice stealth 360 cooling a i7 920:4.2GHz+470 overclocked the hotest the cpu cores got was about 75'c running prime.ivybridge temps go skyward with more volts because intel put cheapo crap tim between the die and the IHS.
You may have a flow issue though. Is the loop fully bled of air? (e.g radiator airlock)
I assume it is the block, something is clearly not quite right. Does any one know If I can do the thermal paste with the case upright, I normally just stick the case on it's side but it's not really possible now.
it must be input into the centre hole of the block and outlet to the outer hole of the block.