Hi there, Graham,
I'm afraid I can't help you with the starter part of your question.
However, I can reassure you about the fan. It will cool the motor as long as you fit the shroud. The stator of the motor is assumed to be in good thermal contact with the casing. There may also be an internal fan that picks up the heat from the rotor and blows it to where it too can be shed to the casing. The fan in your photo then sucks air in through the pretty pattern of holes and blows it out around the motor casing to remove the heat.
I used to have a woodworking machine that had a Brook Gryphon 'totally enclosed fan-cooled motor', similar to yours except that the shroud was plastic. That type of motor is good where there's lots of light stuff like sawdust or grinding dust that wouldn't do any good if it could get into the innards of the motor.
The rating plate of your motor may even bear the description 'totally enclosed fan-cooled'.
Best regards,
Swarf, Mostly!
Edited By Swarf, Mostly! on 07/01/2014 17:41:38
Edited By Swarf, Mostly! on 07/01/2014 17:42:03