A single picture, imbedded with clues and questions, lead to an small scale investigation on something that we think we know how it works. Regardless of who is right, everyone participated will learn something, be it from their own research, or others.
My take is far simpler than you guys. Look at cards that doesn't vent hot air into the case, like 5870 and look at the color. Compare it with the 6990 and it is clear that it dumps a lot of heat into the case. 590 dump as much heat into the case, but there is no cold spot. Yes we can drill into how a fan works, but to me, they both suck air in and vent out from the ends of the card.
To make the case even simplier, have a hair dyer blower air on an object. Both the object an its immediate environment will heat up. If the object itself conducts heat, then heat radiates throughout the object. Cooling one end of that object will cool the entire object. That is how HS works.
Look at the color of the cables going through the cold spot. Not only that heat didn't get transfered towards it, but cables going through the cold spot and cooler throughout the top of the HDD bay. This is an indication of the cables being cooled off through the cold spot without heating it up. That means, heat at the cold spot is being removed.
It is clear that 6990 blows hot air out of the front of the card. Doesn't matter how hot it is, the immediate environment around the vent should heat up. There are 2 cables right in front of the vent with much lower temp. Compare the temp of the cable with the rest of the case, the cables are cooler. Compare the color of the 2 cables to the ones in 590, the cables are cooler.
If the cold spot isn't a source of cooling, it would have heated up. Look at the top left of the case above the case rear fan. It is hotter than the cold spot, and it is far from the vent.