No there's something more going on your current is messed up - I've had mine what 3-4 months now running on and off 1.6volts with a Q6600 and that is an idle currnet of 62A peaking at 120-130A fully loaded.

In effect I think you have a short developing somehow. This could happen by molten solder forming under the slave VRMs due to excessive heat, but this is unlikely as you are running a water cooling loop over that. However I think it would be in your best interest to run the next board with the stock cooler and a 60mm fan on it to assess if its the MIPS cooler or something else that is the culprit.