Octane does not equate to power.
Octane is the fuels ability to resist detonation.
The higher the octane value, the more you can compress the mixture and this is where the extra power comes from (or add more timing etc). Just running a different fuel will not provide any seat of the pants power increase (that you can notice when riding IMO).
Running your motor cooler does what for you? The hotter the better (to a point). If you are running a stock liquid cooled motor, run what the manufacturer states to run it, this is what it was designed for.
If you have mods, then you need to discuss them with your builder or if you did them yourself, have a clear understanding of what you did.
The combustion process of race fuel and regular pump gas are different and without going into a huge explanation of heat transfer, vapourization and fuell components here, I will simply say yes, it does burn "cooler" (albeit more completely) but unless you are have swapped in a race bred air cooled motor from the late 70's to your XRS, you probably should save your money.
Another thing to consider is what your motor is set up for. Long story short - (since it was at the end of its purpose-built existence) I put a blend of nitrometh and race gas in one of our race cars to see what it would do - it made one warm up session and two practice sessions (about 20 mins running time) before grenading the rod bearings. The added force of the fuel in the combustion chamber essentially pounded the bearings right out of it. Depending on the fuel type you are using, it may eat your seals and do more damage than harm.