Tweek, I'm a bit busy this weekend, so please be patient with me. I'll look up the values for the temp sensor and we'll go from there. If you have the maintenance manual for your bike, you could look it up as well. Also, some members on the board have access to a pdf manual, so, if anybody's got the manual, please hook Tweek up. On a personal note, I've always spent the money on a maintenance manual, it's nice to have the actual book in your hand to be able to jot notes down and such.
Tweek, you gotta warm the bike up and measure the resistance of the temp sensor (right underneath the radiator filler cap). It will change as the bike warms up accordingly. Make sure it's in spec.
Next, take some wire and hook your cooling fan directly to your battery to make sure it works. Make sure to bend and wiggle the wire going to fan to see if you can find a bad connection anywhere.
I have to look at the wiring diagram to figure out where the fan switch/relay/actuation method is, and figure out how to test that. Feel free to try this on your own from the manual.
With all the components tested, the only thing left would be to test power going to the fan through the wiring harness, which will require you to get the bike hot and wait to see, with the multimeter, if the power leads energize.
Once the electrical part of the cooling system has been checked, and no problem found, the next step is to figure out if it's pressurizing appropriately. I will help as much as I can, but it's kind of difficult over the keyboard, so please bear with me. If you feel comfortable doing what I'm saying, go for it, if you think it's too much for you, the shop would be a great place to go!