If the Engineers underestimated the heat that was produced by the PS, they wouldnt of put that cooler there.
All of the libbys with the 45rfe tranny got the PS cooler from the factory and the tranny cooler was an option that came with the towing pack. After they switched to the 42rle tranny, the Aux tranny cooler came on all models and the PS cooler came with the offroad pack(I think) and the towing pack.
When offroad, you are doing alot of turning(also when towing), so thats the reason for the cooler.
My power steering pump has been leaking since I got the Jeep. I didnt really catch it till after the 3yr warranty was up though.

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LOST KJ'S
Where are you going???
Current Jeep: 2004 Jeep Liberty
-Atlantic Blue
-Air Ride Rear Suspension ; OME/Rustys Lift ; Powertrax Locker ; Moog Lower Ball-Joints ; 245/70/16 Yokohama Geolander A/T-S's on MOABS ; Flowmaster 50 SUV
Lost #007082
http://www.cardomain.com/id/jeepjeepster