So as SHO owners, we basically have three easy solutions to fade:
    1    cool the rotors
    2    change to higher temp pads
    3    install bigger rotors

Cooling has limited effectiveness on one stop temperatures, but can help considerably on multiple stops. The design of cooling ducts can get rather technical, and can even be detrimental if done incorrectly. If you want to run 4 in. hose from the foglamps opening (a high pressure area) to the center of the rotor, it could probably only help, but I have seen or heard of no data to support this). Consider, however, that a car like the SHO with rounded front corners, has a lot of natural airflow through the wheelwells. This can be confirmed by the amount of brake dust on the outside of the wheels. Using open design wheels may be an easier,  more effective mod. Also the SHO slicer wheel is actually an air pump if installed uni-directionally. Use separate left and right wheels. Be sure to install them so they pump air out.

Cooling slots and holes in rotors are not a good fade reduction option for street use because of their tendency to accelerate cracking problems. They are designed to get rid of gases from organic pads anyway. (Yeah, I know, they look cool...) A better option is to get rid of the organic based pads.

Some on the list have advocated removing your dust shields to help with the cooling. This may work for the track, but for the street you would have accelerated pad wear from all the extra grit. Try the right temperature pad first.

You could also put bigger rotors on your car. The 96 front rotors are 33% heavier and will help hold down the rise in temperatures. The pad now has less temperature to deal with. On an 80 mph stop, the temperature rise, compared to the stock rotors, would drop from 381 to 299 F. A 140 mph stop would drop from 1025 to 777 F. ( and they look cool too, especially through those new "open" wheels....)

But regardless of what you do, the lowly disc brake pad still has to deal with some pretty hot temperatures. Aggressive driving means different things to different people. For a street driven SHO, I'd like to have brakes that could handle several 60 mph stops or one good 100 mph stop with no hint of fade. That would give me a confidence in the brakes that I could "feel". It would also eliminate a lot of the warped rotor problems because fading pads tend to boil off organic compounds, have a changing friction coefficient, and develop hot spots in the rotor. This uneven heating and cooling causes them to warp. That's why eliminating the fade eliminates a lot of the warping. I would anticipate temps up to 600 F in my proposed aggressive street driving scenario. Unfortunately, many of us have found that our brakes begin to fade at these temperatures.

Buy CM pads:    Any carbon-enhanced-metallic style pad is a great improvement over the OEM type semi-metallics regarding fade during agressive use. Buy the brand of your choice. The increase in fade resistance is 50 % or several hundred degrees.

Use either the 601 or 598 size CM pads on the 96 11.6 in. rotors:    Go for the CM pads even if they are the FMSI 601 versions designed for the 94 rotors. These are 1/4 in smaller than the 96 SM pads. As long as you are switching to the CM type pad, you'll see such a big performance increase (near 50%), that it overshadows the difference in swept area (10%) that results by using the (wrong) pad on the big rotor. Refer to the SHO owners survey comments above. To really optimize everything, however, try to find a CM pad brand that you can get in the proper (FMSI#) 598 size. These measure 2-3/16 from top to bottom.

Bed in your pads and season your rotors before any hard use after a pad or rotor change. There is an excellent write-up on the ShoTimes FAQ regarding this. Hal Baer says DO IT! Especially with carbon pads.

Caliper Sliding Pins:    Have a tendency to stick both front & rear. During normal brake maintenance, they should be cleaned of rust, polished with emery paper, and greased with a high-temp silicone grease. Any torn water/dust boots should be replaced. Or replace everything with easily available and inexpensive "pin kits". The final fit should be an easy slide with your fingers. Any greater resistance than this will cause unequal pad wear, unequal braking, increased rotor thermal stress/warping, etc. Any uneven pad wear front to rear (on the same pad) is an indication of sticking slider pins. Any drastically different amount of pad wear from inside to outside is an indication of the same. Neglected, sticking sliding pins are very common and put more pressure on the front. Not very desirable.

Use the same pad compound front & rear:    This becomes even more important as you step up into high-performance / high friction CF pads. You need to maintain your brake balance front & rear. You don't need drastically different CF's front & rear. And if you go to all the trouble to adjust your brake bias as described below, you don't want anything to mess it up. Also, different compounds heat up differently, and don't you want consistent brakes? This is hard because many manufacturers don't offer the same pad selection for the rear, since they aren't requested as frequently. After all, they offer what sells.

Adjust your brake bias:    The SHO has a sophisticated front/rear brake pressure proportioning valve that not only adjust for static weight distribution, but also adjusts for dynamic brake bias while the weight shifts forward during braking. It measures stopping intensity by measuring changes in rear ride height. Fortunately, it is also easily adjustable. The ideal setting is to have the front brakes lock just 5-10% prior to the rears, ideally under all traction conditions, but dry pavement is usually the compromise. Any change in tires, springs, brake pads, ride height, weight, rotors, etc. can require a change in the brake bias to get back to the ideal. If ABS equipped, it is important not to let the ABS do this load compensating, because if it kicks in at only one end, the other end of the car is not braking at optimum. (This could be the reason some ABS cars have taken slightly longer to stop than a non-ABS version.) Maximum tire traction is achieved at about 5-10% tire slip. The hardest part about testing this setting is not flat-spotting and ruining a set of tires. (Testing ABS cars should be much easier.) It's very likely the Ford setting is more conservative than ideal, (just like understeer) and you could likely dial-in a little more rear brake to help the over-worked fronts, and improve your stopping distances. Try lengthening the adjustor rodlength near the left rear lower control arm 1/4 in. at a time, until the rear tires lock first on dry pavement. Then back off 1/2 in.

Parking brake cables:    Also have a tendency to stick causing many of the same problems as sliding pins.

Brake booster return springs:    Have been known to fail and cause your brakes to drag while cruising down the highway. Causes extremely increased pad wear and increased warping. Can be detected by lifting the brake pedal with your toe, or checking front rotor temps after a few minute highway cruise. Stop carefully using only your emergency brake, and carefully check front rotor temps with your bare hand near the rotor. (Or use a pyrometer) Mine were only 68 F on a 45 F day.

Aftermarket Kleen Wheels Dust shields:    They shut down the rounded Taurus' natural wheel well air flow. I had almost red-hot brakes after cruising down the highway with only this simple change.  No dust, but...Severe brake fade. Even with CM pads. Nuff said.

Factory dust/splash shields:    These block some cooling airflow, but they also keep dirt grime and water off the rotors. Removing them may help cooling, but at the expense of possibly greatly increased pad & rotor wear. Recommended by some SHO owners, and not recommended by others.

Cryogenically treated rotors:   This is not expensive, something like $35 ea. It is definately well-founded science, and the cutting edge race teams are doing it. The temperature extreme actually anneals/hardens the rotor, affecting it's wear rate and thermal stability in a very positive way.

Cool air ducts:    These are almost free. 4 in. high-temp dryer hose or auto duct recommended. Old fog lamp openings are an ideal high-pressure spot. The outlet should point at the center of the rotor, since these are vented rotors. Pointing at the rotor edge or only one side may worsen the warping problem rather than help. Rapid cooling cycles themselves may worsen the warping problem, so BTW.

SHO slicer wheels:    Are actually an air pump. One SHO owner tested this and published the CFMs on the SHO-times list. Make sure you install these directionally to work the best. IE: you will need separate right and left wheels. Install them so the fan blades pump air to the outside of the car. Don't mix them up during a tire rotation.

Open style wheels:    The SHO has a lot of natural wheel-well airflow, due to it's heavily rounded front fender shape. Play this up by choosing a wheel design with as much open area as possible to increase the airflow.

Cooling slots or holes:    Can reduce fade if the problem is caused by gases boiling off of pads with organic based content. That may not even be the reason for the brake fade. Definately decreases rotor life by increasing thermal stress and  leads to cracking. Slotted/drilled rotors may not last as long as your pads. Buy non-organic/carbon metallic type pads and you won't have to worry about gaseous fade. But it sure looks cool...

Front air dam:    Cuts off air flow under the car, and to your brakes. Nuff said...

Brake fluid boiling:  This is a very real possibility with all systems from the 10.2 up to the 12.5 Baer conversions when used in a real racing environment.  The Ford brake system is spec'd for DOT-3 fluid, but not all DOT-3 fluids are alike!  Generic DOT-3 has a dry boiling point of just over 400F.  Ford-brand High Performance DOT-3 has a dry BP over 500F, which makes a huge difference.  There are several high-performance DOT-4 fluids which are available with dry BP of over 550F (Motul). David Zeckhausen has some very good information on different brands of brake fluid also on the FAQ.

This change is most approppriate in a racing environment. For street cars, caliper temperatures will never come close to rotor temperatures. They are pretty well insulated from each other, and there just isn't enough time for the hot air to heat them up. I tested this by four hard stops to generate 600F rotors and I could still touch the caliper by hand!

However due to moisture and corrosion you would do well to review the different brake fluids available, and do an occasional  brake fluid flush to remove the moisture. Maybe every year or two.And remember, moisture in the fluid can lower the boiling point to below 300F! regardless of what type fluid you use.