First, it depends on whether or not you have overheating problems NOW, and also whether or not your hub is geared, or direct drive.
I was quite surprised to learn that water inside the hub is not really a problem, unless huge quantities. Waterborne grit and rocks and such are issues, most put screens over the holes. Long-term corrosion is a problem, most who drill the covers use a spray on varnish on the coils. The electrical short is apparently not an issue at all. Didn't make sense to me either, but 10 or more experienced riders all saying the same thing, and no disagreement from anybody, well, OK. This stuff is for direct drives motors, for the most part, and mostly only hot-rodders require these modifications.
The statorade is effective, though this may evaporate over time, and really should be combined with some heat sinks between the flanges, as what it does is transfer heat to this area, where the magnets are, which can be permanently weakened by excessive heat. The holes have the benefit of getting the heat OUT of the motor.
Again this is only needed at high power levels, for most users these techniques are not at all necessary and could actually do more harm than good.