Damn, I just realized I belong to this board.
Anyways, you can remove the thermostat if you want to for track use and the zx7r racing manaul says to remove it to increase cooling but according to Ken Waters (RIP) you can leave it in as it does do what the manual says it does.
Check out
http://webzxr.co.uk/ and look in the tech tips. Then look for Ken's tips.