Cooling allows 35mm2 copper to be used rather than 120mm2, so reducing weight and increasing flexibility.
So charging cable feels closer to a traditional petrol pump, rather than a massive cable people would not like to use. While still able to carry 500 amps.
Also bigger versions to charge larger equipment - tug boats, ferries ,mining equipment etc
Termination pins take liquid off to the side for return journey. Allows liquid to circulate around pins to keep cooled.