I worked on the Belly Pan some more today. I took off the aluminum wrapped around the muffler, checked everything really carefully, and added a piece of coro in the LR wheel well to seal it up some.
All of the aluminum framing was fine. Even where it was nearly touching the tail pipe. No hint of melting. However, the coroplast along the tail pipe, more towards the middle of the RAV, was singing a different tune. It's warped and slightly melted on the upper side. I'll have to replace the whole right side. And I will be using quite a bit of wire mesh.