The temperature sensor is connected to one of the heat tubes which transfers the heat away from the processor to where the heat is dissipated through the cooling fins. However the intel processor has an internal thermal protection which will shut itself down in the event of over heating, and the system will never know exactly what the actual temperature of the processor is. In other words, it is possible that if you have a poor interface between the processor die, and the heat sync, you will measure a lower temperature than the processor actually is experiencing, and still have a forced shut down issue.
I also am running boinc to see if this is a heat issue with the fans running full speed. I performed the same test yesterday without a SMC hack running. Today, I have SmcFanControl running with the fans running at full speed.
I'm not sure of your exact situation, but in my case and with other cases I have experienced, the shut down time interval decreases with each shut down, which is very indicative of a thermal issue of some sort. In my case, if after today there is no shut down, I would say that the SMC is not correctly managing the temperature by controlling the fan speed. If it does shut down, I suspect an interface issue between the logic board and the processor. I am a certified apple tech, so for me, what I am about to suggest will not void my warranty on the computer I'm servicing. If your computer is not under warranty, by all means go ahead. It's not any good if you can't even turn it on. Anyway, if the computer still shuts down, I will remove the processor heat sync and make sure the thermal paste hasn't "oozed" so to speak off the processor die necessitating reseating the heat sync with a fresh application of thermal paste. I have been reading of people getting their logic boards replaced to fix this issue, which also requires a reseating of the heat sync, so I think people may be replacing good logic boards with good logic boards. The only defect appears (from my reading) to be the SMC mismanaging the fan speed. I say this because my initial test I performed with Boinc running, the measured temperature rose and rose, but never got to a really high temperature. But the fans never sped up either, and eventually after about 7 hours of running boinc, it started it's spiraling shut down trend until it wouldn't even get to POST. I tried resetting the PRAM, which it shut down after the fist POST chime, then it never got to POST.
I have also had computers where the SMC reset fixed the issue, and I have those computers in service again without any issues.
My point:
Gather all the information you can. Posting a couple of things you tried, without trying everything doesn't help the trouble shooting process a whole lot.
Hope this helps:)
FYI:)