10Hole - your reference sounds as if it's from a generic description of how feedback systems work. Let's get more specific. From Charles Probst' book "Ford Fuel Injection and Electronic Engine Control", pg. 86 in the Oxygen Sensor section --
"The ceramic sensor body is a solid electrolyte that generates a voltage only if the ambient air has a higher oxygen content thant the exhaust. The ceramic material must be hotter than about 300 degrees C (570F). On a cold engine, it may take 90 to 120 seconds for an unheated oxygen sensor to get hot enough to start generating voltage.
In most 1988-1993 EEC systems, and beginning with '93 MECS, you'll find electrically heated oxygen sensors to improve emission control. Durnig engine warm up, mixtures are rich because the system is operating open loop, not controlled closed loop. The sooner the oxygen sensor becomes hot enough to send proper signals, the sooner the engine can operate closed loop for better control. A heated sensor may be hot enough after 10-15 seconds. V-type engines usually two oxygen sensors, one for each bank."
Probst' book is considered the 'bible' when it comes to Ford's EEC systems. The engineers designed the system to get into closed loop as quickly as possible because cold start up is the dirtiest part of the engine's EPA running cycle. The last thing they wanted to do was wait until coolant temps had warmed to some predetermined temp -- they couldn't pass what were then becoming stricter and stricter emissions levels. The main reason heated O2 sensors were developed was so they could decrease the 90-120 second time interval to something much shorter - so the engine could get to closed loop much quicker - so they could better control emissions. There are coolant temperature dependant functions - but they pertain to primarily to how the thermactor diverter valves and egr systems operate.
The computer wants to get to closed loop asap - it's the most efficient mode of operation from an emissions and fuel economy perspective. It just needs the O2 sensors to warm up to do so.