Tezz,
I will make a prediction. The problem only occurs when the underhood temps gets high enough for the metal in the contacts for the cam sensor, where it plugs into the main harness, to expand or contract and have a partial loss of connection. The PCM sees this as a bad sensor, or incorrect cam timimg - due to the loss of signal.
A P0116 code is is a Engine Coolant Temperature Performance error. It happens after a set amount of cooldown time, and the PCM compares the Coolant temp, Intake Air temp and Ambient Air temp sensors. If the Coolant temp value is not within the "calibrated" temp range determined by the data from the other temp sensors, an error is detected. This is a Two Trip Fault, meaning that this error has to be detected on 2 separate occaisions before the code is illuminated.
If it was in fact a P0116, then the temp sensor replacement will probably cure it.
Again, if the problem persists after the sensor replacement, it may lead back to the contacts in the connector flexing under heat and sending false (or incomplete) data to the PCM which senses an error. In the case of the temp sensor, being a 2 trip fault, it is less likely that this would be the case, as compared with a sensor that would show a code at the first instance of bad data - or data out of range.
Just a thought....
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