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The temperature gauge will bobble up and down with speed if you have not installed the "Themo-bob" mod yet. The KLR is somewhat notorious for running cold when at speed, and it has no coolant bypass hose for the thermostat so the coolant is not distributed to the radiator at all until the thermostat opens, and then once the heat is dumped the thermostat closes again and the cycle repeats.
The Thermo-bob kit is supposed to stabilize coolant temperatures and allegedly provides a longevity benefit to the engine but I'm not sold on that particular aspect. I haven't done it to my bike, I have over 20,000 miles on it so far, and I ride the shit out of it with no ill effect.
Earlier model years of KLR certainly do tend to burn oil above 5000 RPM (some claim that "all" do, but mine certainly doesn't -- it's a 2017) which is the only drawback to sitting at high RPM's. As long as there's oil in there, the engine doesn't care.
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