Billyray, just a few notes first of all regarding the PLX chip in your Maximus V Extreme. Your motherboard is a 1155 platform with a Z77 chipset. Amongst other things, this means that the CPU/Z77 can talk to 16 lanes through to the PCIe type device. As Asus wished to offer more lanes to allow for 4 way SLI, they included what we call a PLX chip on the motherboard. The actual PLX chip used is a PLX PEX 8747.
This allows the MVE to run 32 lanes (at PCIe 3.0)
However, it was up to Asus to design how they were going to do this, and if we read the manual carefully, we can see that the lanes that use the Z77 only (termed native) are the Red slot 1 (named PCIe 3.0/2.0_x16/x8_1 in your manual), and the Black slot 2b (named PCIe 3.0/2.0_x8_2B in your manual).
The way they have designed this area means that if you only use the slots that use the 16 native lanes (the ones going directly to the Z77), the PLX is not needed, and in fact will not "turn on". If you happen to use another slot with a single (even if it's a dual on a single), apart from the two above, you will turn on the PLX Intergrated Circuit. When the PLX chip is running, it consumes about 8 watts of power typically. Not much, sure, but the heat generated in a small 27mm x 27mm chip could see it rise to 50C.
Given your choice of Video card, you can now see the reason why you would be well advised to use one of the two slots mentioned above, so that you run "native" lanes, rather than turn the PLX on. I would recommend Red slot one, because, as you can see on page 1-26 of your manual, the first red slot will give you x16 3.0 PCIe, while 2B will give you x8 3.0 PCIe. I would only use 2B if there is a fitting problem...praps interference with other hardware.
Two other matters you mention. The first is the positioning of the PLX.......it's not under anything, but is positioned between the 3rd and 4th red PCIe slots, just above the small black PCIe x4 slot. The second concerns the "cutoff" temperature of 105 degrees. This is associated with the PLX, but is also the temperature, that if the CPU gets to, it will shut down.
Hope this assists.
Just finishing TJ 11 WC.. trying to control cooling via total PWM
Asus Max V Extreme
Intel 3770K
Corsair 16gig Platinum 1866
2 X GTX 690 (EVGA) with aftermarket EVGA water blocks and backplates
Samsung 830 Series 512GB + 3 WD mechanical HD's
Swiftech Apogee Drive II
Swiftech MCP35X2
Alphacool NexXxos UT60's quad, triple and single 120's
Rad fans 11 x NF-F12 PWM
Corsair 1200i PSU
Swiftech Maelstrom
AFT Pro-57U card reader