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To my knowledge the WC-202 pump is rated at 28.5 gph while making 20dBA of noise. Not exactly a super-duper high performance cooling unit but these are adequate numbers. We can also see part of the drive-bay radiator here. In total the control unit slash waterpump slash radiator slash reservoir is quite a clever device. If the fan or pump fail, an audible alert is sounded.
For your (well, my) curiosity I opened up the WC-202. You can clearly see the pump and a radiator. We need to cool down that distilled water we are using and that's being done by a system that is no different from the technology used in your car. A radiator. In simple wording, the water will be led through a narrow yet huge network of pipelines, these little pipes are easy to cool down by blowing air over the pipes.
You have to admit, that is quite an innovative package there. All that water and electronics, yes it's scary ain't it ?
Installation time: step one is to layout everything you need to connect. Be prepared and avoid confusion. Read that manual.