Not necessarily. In a DC motor, speed is proportional to voltage, and torque is proportional to current (and power is torqueXspeed, or voltsXcurrent). Since the thrust should be the same (takes the same amount of thrust to hover, or fly at X speed), power should be roughly the same. We know the motors are spinning at a lower speed (if nothing else, just by the tone), so if power is the same, applied voltage will be lower, and current higher. It's the higher current that is likely the primary cause of the higher heat. The sine wave ESCs on the platinum probably help this situation. If I had to guess, I'd bet the MPP with the new props runs at lower motor temps than the MP with the new props.
The props might be more efficient, but putting the motors in a less efficient range.