Garauld's highway pegs won't work with 'cages'.
Update: After wrapping the exhaust pipe under the left peg a few days ago, was finally able to ride the bike. The weather was 24oC and with humidity it felt like 30oC. The ride was about an hour long with some city traffic mixed in. At first blush it appears to help reduce the heat I felt on my left foot, I didn't need to move my foot to the edge of the peg to get some relief. But this improvement may be just that the weather was cooler, will have to see if there is much improvement when the weather gets over 30oC plus humidity factor.
However when I got home I left the bike running for about 5 minutes while I was resetting some parameters on my GPS, the bike cooling fans kicked in. I placed my hand near the left foot peg and then the right foot peg and there is quite large difference in the temperature I felt. The metal part of the left peg was hot to the touch where as the right peg was just warm. More things to entertain a simple mind..