I have an idea before you tear into the thermostat. (Which is under the throttlebodies.)
First, make sure your small hose from the rad neck to the overflow bottle is clear and unblocked.
Second, make sure your rad cap is healthy. Or just buy a new one. They're cheap - like $10-15. Any auto parts store, ask for a 1.1 bar rating. (I would replace the cap before even thinking about going into the thermostat)
Take your fairings off, and with the bike cold, and on it's sidestand, remove the radiator cap (and fill if necessary) and start the bike up. Watch the temp gauge and watch the coolant in the rad. It should be very still, no circulating movement. By 167F degrees, you should see a little movement. By 172F, it should be obviously swirling around. That's the sign that your thermostat is opening. If your bike does this, and you can see that the coolant is circulating, if you gently roll the throttle several times, that will help expel any air bubbles that may be causing your problem. Keep rolling the throttle till the bubbles stop coming out.
The coolant should continue swirling around and by about 190F it will swell up and over the filler neck just a little. That's when I shut the bike off and replace the rad cap.
After you replace the rad cap, start it back up again and let the bike continue to warm up. Watch what temp your fan kicks on. It should kick on at 219F and then off at 209F. If it does, than your fan thermoswitch is working properly.
If the bike keeps climbing above 220 -225F before cooling back down, then you have a problem which could be one or more of the following: blocked hoses, inadequate coolant level, bad thermoswitch or connection or fan fuse, air bubbles, Rad cap not allowing excess pressure to be relieved to overflow bottle, or even a bad thermostat.
Hope that helps...