Talked to a an Automotive Engineer friend of mine who is a cooling system specialist. I asked her about the oil temps going cooler while my pressures were dropping and she said the answer was simple.

First, the oil was doing less work, therefore less temp. Second the oil was being aerated from the internal leak. The leak was on the exit of the oil pump. the air would be trapped in the oil as it passed my temp gauge. More than likely my oil temps weren't really going down that fast, but the gauge wasn't reading correctly due to the air in the oil.

Really simple when you think about it.