Ramjet,
Its possible that the way you are testing the assembley is the reason for a good deal of the heating. You mentioned the cables are connected as follows:
(1)----------------(2)
|
(3)----------------(4)
|
(5)----------------(6)
Power supply at point 1 and return path on 6, is this correct?
If so, the looping of the conductors will increase the amount of flux induced in the shell. The shell would be act as a "core" like that of a transformer with AC applied.
Also, your using one-half of a single phase signal for the AC test ( A - N) ? This eliminates any field interaction that would normally take place between conductors, which has a canceling effect on the field.
I believe if you were to test the assembly connected in circuit as if it were actually installed for operation, you would see a decrease in the temp rise. My thinking is that you have a Pin and Sleeve type connector for a 3 phase, 3 wire circuit. With all 3 phase signals present, field interaction will reduce the flux available for induction, thus reducing the amount of induced current into the shell.
This is why electricians never group feeder cables, of like phases, in the same metallic raceway. Its always A-B-C-(N) or A-B-(N). There are some exceptions, but that's for another discussion.
Again, if I am in error, please correct...