I think you're referring to detonation. Basically the motor sounds like it's still igniting gas in the piston chamber a second or two after you turn the ignition off.
I had this problem with my motor when I first built it. It was a matter of timing adjustment for me. I don't know what the cooling system would have to do with detonation unless you have a cooling issue, but if the engine stays below 200* degrees then it won't cause detonation.
Bad gas is a possible cause. What octane gas are you putting in the car? Now that most gas stations are adding up to 10% ethanol, some of us may start to see gremlins coming out of the wood work if our engines don't like the additives.