A few observations from a non-owner, take it with a grain of salt:
Thermostat
The webike article linked to shows the pic of a thermostat with 82deg on it and then contradict
themselves by stating "The valve opening temperature is imprinted on the main body of the
thermostat, and the case of this thermostat, it becomes fully open at 82degC".
I guess something was lost in the translation.

Water flow direction into the block
I notice the GPz900R appears to feed the cooled water into the front of the engine.
My GPX750R (a later design than the GPz900R) feeds the cooled water into the rear of the engine.
Does this make a difference? Is it only a packaging consideration? I'm not sure.
Coolant temperature
Something to keep in mind is that the coolant coming out of the engine is a mix of coolants coming from
different parts of the engine with different temperatures, so your gauge sensor is giving you a sort of average of the temperatures of the coolant inside the engine.
There is coolant that has passed around the hot exhaust ports, over the top of the hot combustion chamber, around the cooler intake ports and some coming around the cylinder walls.
"110degC" coming out of the engine could be a mix of maybe 90-95degC from around the cylinder liners and 120degC
from around the exhaust ports and combustion chamber.
Coolant
Type B inhibitor is just that, corrosion inhibitor.
Type A coolant contains glycol and inhibitors.
Glycol has does not have the same "specific heat" as water such that it does not transfer heat as good as water. However, glycol does raise the boiling point.
This provides a decisison for the bike owner to make. Do you use a non-glycol type B coolant which transfers heat better than a type A coolant, or do you use a type A coolant that has a higher boiling point?
The Penrite inhibitor you mention may contain a "wetting" agent (although Penrite does not specifically mention it), perhaps emulating a product from Red-Line called "Water Wetter" which changes the surface tension of the water. Either way, wetting agent is not a bad thing.
Before anyone mentions them, there are the so-called "waterless" coolants like Evans which do not use ethylene glycol but instead use (I think) propylene glycol. The idea of a waterless coolant sounds good, but we would want to check on the specific heat of propylene glycol before trying it out.
The 110degC fan switch
There is probably a fan switch rated at 100degC or 105degC fitted to some other bike and fits straight in.
The trick is to find it. The FSM for the KLR600 of that era does not even tell me at what temp the fan switch (located in
the radiator inlet) is supposed to cut in.
This assumes the stock fan is capable of cooling enough to stop the temp getting any higher.
Ideally we want the fan to cycle on and off. If the fan just runs on and on until you get moving and get some extra airflow over the radiator then the cooling system is really at its limit in the prevailing conditions.
A bigger fan could help as long as the wiring and electrical system is up to it since a bigger fan of equal efficiency will pull more current. Pulling more current at idle or low revs may require a more powerful alternator.