I am the farthest thing from an expert, but I think this makes no sense at all...you do not want heat to be insulated inside the turbo...this will definitely shorten the lifespan of the turbo IMHO.
If anything, trying to radiate the heat away would be better (ie, installing cooling fins, not practical but you know what I mean).
My two cents.
LIP
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2003 Electric Blue GT 5 speed loaded
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