Same problem right now
I'm having the same problem right now. Mine normally reads a solid 160 degrees F and the last time out, it only got to 130 degrees F. I was talking with a diesel mechanic today and he advised me of a couple of things. First, it may be a problem with the oil sending unit which sends the temperature to the gauge from the housing where the thermostat is. A replacment sending unit costs about $12, so this is the easy first step. If the gauge still reads low after replacing the sending unit, the other test he indicated was to get a kitchen type candy thermometer and with the engine at operating temperature, measure the actual water temperature and make a comparison to the gauge reading. This will indicate if the temperature is actually too low, or if the gauge is off. A replacement thermostat for the M25XP is about $60, which is expensive for a thermostat. (You need a housing gasket as well). My mechanic indicated that while the thermostat can fail, it is unusual. I'll be investigating mine this weekend. In terms of problems, running too low a temperature can cause fouling, so you want to run at the normal operating temperature of 160 degrees F.