I think the factory service manual is confusing on this issue. Here's what it says for the 22RE:

The FSM clearly state "Cold" but the HINT says warm it up. To me, it sounds like it you should warm it up, so everything sets, and then adjust the valves cold. Setting them hot doesn't make any sense because by the time you get to the last valve, the engine has gotten colder.

 

Setting them cold is just to get you in the ballpark, if the engine has been rebuilt / the valve train disassembled. Then warm it up, and readjust to spec.
LOL no, the engine will not cool off by the time you do the last adjustment, unless you are unbelievably incompetent and slow.

 

LOL no, the engine will not cool off by the time you do the last adjustment, unless you are unbelievably incompetent and slow.

I live in Sweden. The engine is stone cold in 30 minutes

 

Where I live, the average annual temperature is less than 5⁰C, so just work faster...or schedule your adjustment for a warm day😉.