If you don't have cats, it is very easy to remove the short pipe between the side exhaust and the rear H exhaust. That pipe also allows you to mount the **** in the top of the pipe, thus, avoiding water contamination. The O2 sensor doesn't like water accumulation inside the pipe.
I don't think the collector is a good spot, as noted, you have to remove the coating. The WBC O2 sensor also has a quirk that gives false readings at high temps (700-800) and you may be approaching that temp at the collector. It is not just the WBC, most O2 sensors have a max temp where they stop being accurate, it is just that the WBC doesn't let you know.