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I have been running mine tuned on stage 1 for many track days without issues even on the real hot days.
Should be fine as long as you have an upgraded FMIC to keep your IATs low. If you're worried about oil temp put the heat on, most tracks require windows open so I do that for some extra cooling performance.
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328i RWD | MW on CRed Slick Top | 6MT | BM3 | MPE | GPlus FMIC | CSF Radiator | Millway Street Camber Plates & Monoballs | KW V2 6k/18k Swift Springs | F80 LCA/TS | SPL Bump Steer Kit | APEX SM-10 | R-S4 | DS2500 | RBF600 | SS Lines | Past: E36 328is & E38 740i |