full imgur album with more pictures here: http://imgur.com/a/d5aiK  
 
first of all after disassembly i noticed this discoloration on the backside where the VRM is...
it is one of the two spots where they are known to explode, this does NOT fill me with confidence... is this one on its way out? should i request an RMA?  
 

 

 
VRAM did indeed not touch properly:  

 
here is more discoloration (looks like it is wet?) left to the VRM on this picture, i'm thinking this comes from the thermal pad... but it shouldn't look this wet that far to the side, i mean the original thermal pad covers the grey blocks that have R22 printed on them? This doesn't really concern me but it is odd anyway.  

 
the new VRAM thermal pads (with the blue foil on it) are not really much thicker than the original, i don't know if this will actually help...  
they were also not sticky at all and just fell off the PCB again, stick it to the front plate, not to the PCB as the manual suggests, it will stick better on the aluminum plate.  

 
 
apparently my Heatsink is sagging down a bit from the PCB, not the entire card, only the Heatsink...  
it looks good if i press the Heatsink and the PCB a bit together with my thumbs:  

 
but this is what it actually looks like (i can't really tell if this makes good contact, but that pad probably should be a bit thicker as well), i mean i can only see the edge of it...:  

 
...  
all in all this mod was more nerve wrecking than i anticipated (getting the cables out was the worst) and i'm not sure if the results are good...  
the discolored VRM backside certainly has me concerned now.  

The discoloration/liquid type things you see are caused by the previous pads. All pads cause that same thing and it is 100% normal.
 
I've taken a MSI 980TI apart, and a gigabyte 670 before and now 2 1070s and i've noted the discoloration/liquidish substance near the thermal pads on all of them.

RKarov
I understand why the memory modules are that color but why are the VRMs discolored?  It looks like a sign of melting due to it running too hot.  I have the same issue on my card it works fine but I bet that it's lifespan has been reduced.

Mine looked exactly the same, wiped them with rubbing alcohol and they looked just fine.

Scarlet-Tech

RKarov
I understand why the memory modules are that color but why are the VRMs discolored?  It looks like a sign of melting due to it running too hot.  I have the same issue on my card it works fine but I bet that it's lifespan has been reduced.

This is how things go wrong, lol. The thermal grease is 100% normal. If your card had been melting, you would have known before removing the cooler.

I am talking about the back of the card that is under the backplate.  There are no no thermal pads under there.  There weren't any for me and the OP either.

Scarlet-Tech
If the solder joints arent perfect, and there is a small gap, thermal grease can seep through... still 100% normal.

I hope you are right.

Okay thanks for the information.