I and many others have been utilizing aluminum tape as a means of winterizing the cooler for decades. Several hundred hours of winter flying on my bird alone. It does not deform so much as contour to the surface of the cooler to provide a perfect seal. It is very secure, yet easy to remove. The cooler can be blocked to whatever degree the season dictates. For me that’s 30% in late fall/early winter. As temperatures drop well below freezing, I add more. We have fairly manic weather here in the winter; it might drop from the 40s to near 0° in just a few days and then back. I can think of no better solution that offers the same combination of adjustability, ease of application, low cost and low weight. A fine example of Occam’s Razor.
The design of the cowl and the oil cooler location makes for an cool running set up for IO360 powered airframes. Combination of low CHTs and direct airflow through the cooler mean that I think more about keeping things warm then how to cool them off. I know from experience that without an oil cooler blank, I would be looking at oil temps in a 150 to 160° range.
You may be right about airflow to the Avionics. I don’t ever bother to close mine, even in very cold temperatures. However, there are rare occasions where it might be useful if not needed. I have a very good heater, but admit that I have not done a lot of flying in temps much below -20°. I’m sure there’s an OAT where any cold air coming into the cabin is undesirable.