Yes, a blown LIM gasket can cause the engine to overheat if the coolant level is not maintained. Plus, a cooling system that is not under pressure will boil at a lower temperature.

 

I agree. It will overheat. You'll also, in some cases, have coolant enter the engine valley and contaminate the oil. This is when the oil turns milky.

You'll also see coolant and oil dripping from the bellhousing caused by the end seals of the LIM leaking. When I first saw mine doing this I was able to drive it with the rad cap loose BUT this should only be a temporary solution. Water eventually made it's way into the valley and contaminated the oil. As soon as I saw this, and I was looking daily, I stopped driving the truck until the repair was done, which was completed today.