This sounds more like a faulty Thermostat. This is why:
A bad water pump would not bring the temperature back to normal after higher RPM's. If anything it would overheat and shutdown the engine after experiencing severe shakes.
B) A faulty thermostat may be opening at a higher temperature than normal and this is why your experience this return back to normal temperature after higher RPM's. By the way <_< ,replacing a thermostat would be much cheaper and easier to change than a water pump. Plus, the shop will want to replace the timing belt if they do so. One last note; if you do it yourself, make sure you buy the correct one and only buy original parts. I had one replaced with an after-market one and had to replace it 3 months later. Mechanic (at new shop) said use original parts when it comes to thermostats. So far no problems.
Good luck! ;)