OK mystery solved, and thanks to all for the suggestions and concerns.
I spoke to Aerosport Power finally, and feel reassured.
The way it works is like this they tell me.
They put the engine on the Dyno and adjust the oil pressure. They stop it drain the oil and change the filter. There is lots of rubbish in the filter. They repeat the process, and again there is lots of rubbish in the filter.
The engines frequently get bits of rubbish stuck in the pressure relief valve, causing the pressure to drop, which in turn causes them to wind the valve in to achieve the pressure within spec.
Now it arrives at the customer and by now, probably at the last drain, the dirt holding the valve slightly open has escaped. So the customer has high oil pressure.
So, to adjust the pressure back to where it should be, turn the valve anticlockwise. It will drop about 3 to 4 lbs per rotation, so in my case to get from 104 down to say 85 psi will require 5 or 6 turns in total.
I feel reassured and I think the oil cooler might feel a little less stressed!
(444TX - yes you caught my mistake. I am using Total 80 which is of course a 40 weight oil.)