I don't know anything about the actual fluids used in coolers, but I'm sure that they would rely upon density/temperature variation, or even low boiling points advantaging the gas/liquid phase change - gases are lighter than liquids... so why did you mount the cooler on what appears to me to be its side? I would have thought the correct orientation for a vertical board would have been as depicted in this image?
http://img.hexus.net/v2/cooling/Deepcool/Lucifer/lucifer-04b.jpg
Notice that they have gone to pains to ensure that pipes either rise to the finned section, or are flat in this orientation?