as hot as its reading, the rest of the pc should be melting LOL. maybe you could touch it while its on and see from a skin point of view. im sure that is incorrect.
i have the side of my case off and can see everything and once in a while touch mine near the power plug to see how hot is when i've had it running for long periods of time. its a maxtor and it can get pretty hot. is that HDD a maxtor by chance? if so, im sure its hot, but that number in the pic is astronomically high.
actually the 120GXP 80gig has one (I have 2 of them) but its just reading it wrong. Best bet is go to http://www.hgst.com/hdd/support/download.htm and download Feature Tool. This is the company that handles the IBM Drives now. Feature Tool can enable certain things but it has a built in Temp Sensor Reader. I cant remember the temp of mine buts its pretty cool. My system runs cool anyway at 75 degrees farenheit system and 77 degree's farenheit processor. If u ever do a format use the Drive Fitness Test as a low level format utility