This exact same discussion happens every single spring/summer. Just use the advanced google search in the forum and you'll find all the oil temp threads. Save yourselves the trouble of continued discussion and just read through the old ones.
In short summary: oil temps go high in high ambient temps (can go as high as ~250F with street driving). Limp mode will kick in if they go to 280F but this is very uncommon unless you're tracking the car or really beating the piss out of it. If you don't like the temps, buy an oil cooler. It's not a matter of oil levels...just the poor engine cooling when the car is in stock form. Yes, a cooler will void your warranty if it causes a problem. No it won't void your warranty if you have a problem unrelated to the oil cooler.
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2013 Cadillac V-Wagon, RIP Z
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