I have GM 502's with TRS drives. My oil temperature is 250 plus the other motor runs at about 200. Oil pressure is good. The water temp is running at 145-150. I have verified that the water flow is going to the coolers first. ( My coolers are in the bell housing). Is there anyone that has any ideas how to correct this?

First thing I would do is switch senders to see if the problem could be a gauge reading incorrectly. You can also take an infrared temp gun and shoot it on the oil filter of both engines to verify the gauge readings.

Is this something recent, or has this engine always run hotter? Have you tried back flushing the cooler to make sure there is not something stuck in it? Also, if the block was ever replaced and it is a Gen V/VI, make sure the correct bypass valve is installed in the filter pad.