I was playing halo2 campaign on my 360 and I noticed that some images get burned into the screen. I snapped pictures of the arbiter's silhouette, burned into the left side of the screen. One of those bigger forerunner robots also got burned into the screen.
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Whether the Intercooler or not is worth the money, if it actually cools your Xbox 360 to a considerable degree (pun not intended), and if it extends the life of your console is up for debate. However, this is one of the many emulation glitches you will face with the Xbox 360 playing older Xbox games. I doubt if Microsoft is going to do anything about it, so we'll just have to deal with it.