The VW's oil cooler (dog house being prefferred) worked pretty good if you stay relatively stock.
With Many's first drawing, the one replacing the original VW oil cooler, I'd think you don't want or need an external thermostat, VW internals handle that and only send oil to the cooler as it heats and thins out. This set-up was popular on early fan housings prior to the intoduction of the dog house style. All you've done is move the cooler outside the housing, just like VW did in later years.
If you go full flow, and many have on hotter engines, then I think you'd want/need the external thermostat to reroute the cold oil back and bypass the cooler because you are not taking advantage of the VW internals that controled oil cooling.
You really want the oil to get up to temp as soon as possible and into the 180 - 212 operating area in order to drive off moisture, some cars never get the oil warm enough on these little cars.