Some maybes, some more likely than others:
a) thermostat was stuck shut (for whatever reason). Radiator stays coolish as it has no flow. Temp gauge reads ambient temp as it is in the part of the cooling system with no flow when thermostat is shut. It would need the cooling system to have enough capacity to absorb the heat without boiling during the drive home... that's the unlikely bit. Releasing radiator pressure gave the thermostat a shunt, and it opened, letting system work like normal.
b) sticky temperature gauge needle. Turning the power off allowed the needle to swing back to zero, removing the stickyness from the gauge internals.
c) temperature sender unit covered in sludge/scale (unlikely) which was dislodged by the radiator cap pressure shunt.
d) crap connection on the temperature gauge increased/decreased the resistance in the sender unit wire, buggering around the gauge reading. Wire bent back to normal/crap dislodged from terminal when engine stopped, returning correct reading.
e) For a short period of time your car worked out it was an early Holden, and realised it was cooler than it thought
. It then realised it wasn't an FB/EK, and considered itself not as cool as it could be
. Sorry, couldn't resist that gag.
Cheers,
Harv