ok, so let me chime in with an opportunity to spend a little money and eliminate a potential headache:
have a look at the datasheet at:
http://www.airpax.net/site/utilities/eliterature/pdfs/Airpax_TSP_5003_0805.pdf
and see if that doesn't neatly solve the temperature monitoring problem. . . of course, $20 or so per switch could be a little off-putting for those who have a tight budget.
I've used these to protect BIG (~100kw continuous input, watercooled) electromagnets. Granted, my application is DC . . . but I've also seen these switches in all manner of power supplies, motor drives, MOTORS, and the like, serving as overtemperature interlocks. they work and they don't take much space. they're not inherently watertight, so I'd tape mine up (to keep resin out) and submerge it in the stator casting. they're rated pretty generously, unlike the contacts in a thermostat. . . .
because they're small (circa 1cm or 3/8" diameter on the sense element), the potential for eddy current heating and other troubles is down from what a re-purposed home thermostat might experience.
Just a thought.
(I'm actually planning to scatter a couple of integrated circuit temp sensors in my castings. . . but there's a lot more that has to happen in the feedback path between sensor and mill if you go that route. I might put one of these in as a failsafe. . . . one of these days i'm gonna have to leave off planning and start building. . . .)
-Dan