Being new to the Corvette community I am not sure if it is normal for the center console to get so hot (2007 model).  Spare change is getting a little too hot to handle; don't want to put my cell phone in there that's for sure.  Anyone experience this before?  

MINE IS TOO.  

I feel your pain.  I too have a 07 vette and the console would get almost unbearably hot especially in the summer.  I finally contacted exotic vettes and they make an insulation kit for the front and back of the C6.  I spent the Memorial weekend (Thurs and Sat) taking everything out of the interior and putting in the insulation kit.  It has made a dramatic difference to the heat in the cabin as well as keeping things much quieter.  It took me about 3 hours to do the back and about 7 hours to do the front.  Getting the connectors apart in the console was the biggest issue.  Hope this helps  

You might want to try installing a ceramic-coated tunnel plate like the ones offered by Elite Engineering (www.eliteengineeringusa.com) to reduce the amount of heat transfer from the exhaust to the console. An added benefit of this plate is that it increases frame rigidity to lessen the amount of torsional flex in the chassis.  

I have an 07 coupe and my console gets hot too. I went to my dealer and they said GM is "aware" of the problem, but will not do anything about it. Using Elite Engineering's tunnel plate and insulation is a good solution to reduce the heat problem, but will not totally solve it.