What are the benefits and drawbacks to having a pouring temperature that is much higher than the metal’s melting temperature?

The main advantage would be that with the pouring temperature being much higher, there is very little chance that the metal will solidify in the mould while busy pouring. This will allow for moulds that are quite intricate to still be fully filled. The drawbacks, though, include an increased chance defects forming which relates to shrinkage (cold shots, shrinkage pores, etc). Another drawback includes entrained air being present, due to the viscosity of the metal being low because of the high pouring temperature.

it means there are 3 atoms of oxygen

thats how its supposed to be