I had problems with a CTS many years ago and been looking through my notes I made, before there was the useful page on WikiLEC.
http://wikilec.com/view/CTSIt is a thermistor, which is 'electrical engineer speak' for 'thermal resistor' meaning a resistance that changes with temperature.
If you have a simple multi-meter with ohms scale the key information, easy to check, is : in iced water it should be about 8k ohms, in boiling water 185 ohms.
They are fairly robust and not prone to changing values, just stop working. Mine went open circuit, so very high resistance (infinity is high

) so ECU thought engine was cold. It was fine on first start up but soon too rich as the engine warmed up. (I found an old volume control 'pot' that covered the approximate range so 'lashed up' a manual adjustment until a new CTS could be purchased and fitted.)
I'd be very interested to see the graph from MPX with his new CTS fitted. On track, a full throttle blast down the straight will generate a lot of heat in the head so CTS will then read high, braking and part throttle will allow it to reduce, then high again for blast down the next straight. The graph covers 1000 seconds so 16 mins 40 seconds and range approaching 110°C doesn't surprise me - that's why the system is pressurised, to elevate boiling point ... 15 psi elevates it to 125°C. You get more power at higher temperature, particularly with cold air, which is more dense. Variation for 110° to 90° is within my expected range. BTW I run on an Everest chip and a diesel Astra thermostat which opens about 5°higher than the OE 'stat.
If you do the boiling water / iced water check and figures are about right I'd try a new thermostat before replacing the CTS. Thermostats can get a bit sluggish and not fully open - I usually check mine boiling it up in a saucepan - but only when my wife is out ..
