BigDan, what nitrous will do is burn off the excess fuel (black smoke), it will not add more power by itself, but yes, the extra burned fuel will produce extra power, so that means higher cylinder pressure and temperature.
Based on some videos I've seen here, they have plenty of black smoke that could be cleared up and produce a few more ponies.
Like I said above, I don't know what is a safe EGT with nitrous, so start small.
If you read the zex link above, it explains stuff quite well here:
http://www.zex.com/Articles/Details.asp?ID=-1669662931
By the way, NOS is a trademark of one nitrous company.