Since edjack hasn't replied in the last couple of days, I'll venture to help clarify
Regards 1)
First, one needs to be careful distinguishing between engine temperature and rad outlet temperature.
V8 normal engine operating temperature as reported by the sensor in the t-stat housing is the 100 - 110 C that you mention. I think edjack made a typo when he said "... outlet temp exceeds 120 deg. C ..." The actual trigger value is ~80C for your type of aux fan. And no, it doesn't take extreme heat to get the aux fan running. The aux fan will begin spinning slowly when rad outlet temp reaches 80C, at which point engine temp (rad inlet) might be 100C or could be 125C. If rad outlet temp continues to rise, aux fan speed is increased
Regards 2)
Engine temp of 107C is a good value for your V8 engine. However once a hot engine is turned off, coolant temperature will rise. This rise in temperature once the engine is stopped is termed "heat soak." While the engine is running the pistons, cylinder walls and cylinder head are all a good deal higher temperature than the coolant - that temperature difference is what drives the heat from the engine's metal parts into the coolant. Once the engine is stopped the cooling effect of water pump and radiator stops too. The hot metal continues to transfer heat to the coolant with the result that temperature rises ... and therefore so does the pressure. Apparently in your case that pressure rise is/was just enough to find a weak spot that didn't leak at 107C pressure but did leak at higher pressure. That coolant turned into steam once in the lower pressure of the atmosphere.
If the leak was at a bleed screw, probably a little tightening is all that's required. If the leak was at a tiny crack just beginning, a different story.
EDIT: bleed screws have been know to crack and leak. I've had one such and the crack was not easily visible. If the leak point was the bleed screw, try a new one since they are inexpensive and easy to change.