A) yes, it's OK to reach that temp. Temporarily. It's not something you'll want to on a regular basis as high cpu temps degrade the cpu at a highly accelerated rate. Normally a cpu will last 20+ years easily, becoming seriously obsolete by software standards long before its physical death. With enough degradation, it's like alcohol. 1 drink every now and then doesn't hurt, constant drinking.. Different story.
B) the Masterbox lite 5 will front mount a 120/240/280/360mm (limited) radiator upto 50mm thickness without the fans.