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Hi Norm,
I would say no. Volvo only intent of installing this piece of plastic is to keep them out of court on Customer’s frying the transfer-case/bevel gear assembly on AWD models.
What keeps the engine running cool is the coolant in the radiator and a thermostat. Air circulating around the engine does very little in cooling off the engine. That is, the engine was design to be water-cooled not air-cooled. That is why there is that BIG fan right behind the radiator pulling cool air through a hot radiator. And here Volvo did a good job.
So save your money. Maintain the car and you will have the car for a good long happy time.
Steven---
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