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I'd like to know the answer to this question too. I bought an adapter from LG Motorsports to hook up an oil cooler and it uses this connection. I asked them two and a half weeks ago which opening was in and which was out. I was told they would research this and call me back, but I still haven't heard back. The factory shop manual indicates that the front opening is out and the back opening is in, but it's a schematic so I don't know for sure.
OK good, that confirms what I thought. The adapter I bought does include a place for the oil temp sensor. I have it hooked up to a ZR-1 type oil cooler in front of the radiator using -10 lines. So far everything seems to work fine.