The information from Argonne is interesting, but may not apply. They mention stats for oil and antifreeze, but not for pure water. Oils and antifreeze already pale versus pure water. Granted, pure water isn't always an option and has its own drawbacks, but it is far superior to most other fluids at pure heat transfer.
I guess what intrigues me is the possibility that you may be able to use antifreeze without a substantial heat transfer penalty. Imagine the bug-fighting nature of antifreeze without a performance hit.
Much more needs to be known, however, like data on viscosity vs temperature, materials compatibility, etc. I would hazard a guess that viscosity is virtually unaffected by these particles. Can't say much for certain, though. Post whatever information you can find.
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