Brian, nice work on the bike. The thing that most catches my eye is the tank pad...I need one! My kevlar jacket really rubs my tank raw. Where did you get that?
Water cooling of electronics is, in my opinion, pretty hard to justify. Let's be clear that water doesn't actually do any cooling (except in the rare case it's allowed to evaporate and carry some heat off that way), it just moves heat from one place to another. For instance, in an ICE, the coolant just moves heat from the engine head/block area to the radiator. That has advantages and disadvantages, with the primary advantage being the opportunity to put a thermostat inline so the engine runs at a much more consistent temperature. In terms of sheer cooling power, an air-cooled engine often is less affected by hot weather than a water-cooled engine! Water-cooling does give the opportunity to use a huge radiator so there's lots of surface area to dump heat, but in the end the same amount of heat still has to wind up in the atmosphere. It's the shedding of heat into the atmosphere that's the usual bottleneck.
Edit: I should add that water does have a very high heat capacity, so it can absorb a ton of heat without the temperature rising too much. Drag racing engines have a couple of quarts of water in each head which isn't circulated at all, it just absorbs enough heat to keep the head from overheating during one burnout/race down the track. Doctorbass has pointed out that since our chargers only run for a fairly short period of time, that might be all that's needed to control the heat it generates.