The temperature continuing to rise is completely normal. Intercoolers are in effect a thermal reservoir, the cooling capacity of the atmospheric air flowing through them isn't on the same level as the heating capability of the turbo. There is more heat going in(turbo) than coming out(atmosphere), so the aluminum heats up, raising the intake temp. Air DOES still cool the IC while on boost, just not anywhere near as much as the turbo heats it. This will hit a steady state at some point, but it is higher than what we want. After you get off the throttle and the turbo is no longer heating the air, then it's relatively easy for the atmospheric air to cool the IC down to ambient.
The vertical flow IC's are great for engine airflow, but they sacrifice some cooling capability.
My car, on the dyno(not anywhere near the airflow of going down the road), MAT started at 75F and ended at 110F. I see much less of a rise while actually driving.