I have done some tests and have some interesting insight...
The overheating only seems to occur with Synthetic benchmarks such as Prime95. Under games it is fine, and even under 100% load with image editing software such as Paint.net. Since all I use my PC for is gaming and Image editing (mostly) I have decided not to RMA the part.
It's clearly not a packaging defect: since it would get immensely hot regardless of the workload. Part of me thinks that when running special instruction sets such as FMA3 and/or AVX2 at full Turbo speeds, the chip can't get the heat off quick enough since these units are larger and require more power to use.
Regarding the motherboard, my Formula wasn't allowing my chip to thermally throttle, which is why it hits 100C+ in these tests. I tested it in an MSI Z97 PC mate under the same test with the included stock cooler, and it rises from 70C to 100C+ where it throttles down to 3.4 GHz to keep cool enough, sitting at 99-100C.
The latest iteration of Prime95 uses FMA3, AFAIK, not sure about the Intel Tool or AIDAx64, but it's interesting. This is still something to bring up to Intel, though, and I'm surprised it's not more widespread. Either way, since my chip remains in the mid-low 40s during gaming, and peaks at ~52C under 100% load image editing on my H100i, I decided not to RMA.
Hope this helps.