Really more the radiators and fans then coolant. I am using coolant to avoid as much corrosion as possible
I really like the idea of a self contained cooling unit. If I didn't already have a portable GX CS3 I would probably build a setup like that for my Yong Heng when I travel. I am going to show this to my son so he can build one if he wants to ditch the 5 gallon bucket.
If you try running it longer and it starts to get close to 65-70c, you might try pure water plus a coolant treatment like Rislone Hy-per cool to drop the head temperature even more than 50/50 water antifreeze can and still protect against rust / corrosion. I put 16 ounces of Rislone Hy-per Cool in 3 gallons of distilled water (The bottle says 1 ounce per quart of 50/50 coolant) and I am getting zero signs of rust with the Rislone and distilled water only. Red Line (80204) Water Wetter is apparently the best for heat transfer but I am plenty happy with the Rislone, keeping it below 50c most of the time.
If you're worried about rust with just water and coolant treatment, maybe try an 80/10 mix of water / antifreeze plus the wetting agent. Since you probably don't need anti freeze protection from your coolant, you can use distilled water with no antifreeze at all and a higher dose of the coolant additive, like double or triple the recommended amount of a coolant additive to achieve better heat transfer than a 50/50 mix of distilled and antifreeze since water can absorb more heat than 50/50 water / antifreeze.
My YH stabilizes at 48-55c after 6-7 minutes of constant running using distilled water and with a 5 gallon bucket with about a gallon of frozen soda bottles in it. Since heat is what kills the seals in the pistons, I run mine non stop as long as the temp doesn't go any higher and the motor housing doesn't get super hot. The owner's manual says you can go as high as 75c, but I think that is too high for the longest life of the seals. Some guys don't go over 50c.
I do bleed some water on the primary water trap on the compressor every 3-5 minutes, but just a super quick open / close to see how much vapor comes out, then another quick open / close, repeat until I don't see any visible vapor. It only takes a few seconds to return to the previous pressure. I also swap out ice bottles that no longer have about 70% ice in them with new solid ice replacements.
If I am just filling topping 3 or 4 smaller cylinder guns, I don't need to put ice in the bucket. With the Rislone / distilled water mix, it never reaches 50c. I can fill one 550cc bottle, non stop running, from 120 bar to 250 or 300 bar with no need for ice in the bucket as well, staying under 50c. But, I have a closed system on the large double tower Tuxing filter so I don't have to keep refilling that every time I change guns. The compressor reaches the same pressure as inside the Tuxing towers very quickly and starts filling the gun in just a few seconds, vs. 3-5 minutes before air starts moving into the gun if the filters are empty.
Eventually I am going to split the two Tuxing cylinders into two stand alone filters and add in an "Orange" water trap first in line followed by one of the gold Tuxings filled with molecular sieve beads and give the other Tuxing cylinder to my son.