Trikenut
CHT - Cylinder Head Temperature
EGT - Exhaust Gas Temperature
Cylinder Head temps in the 912 and a 582 are controlled by the water cooling, and are typically in the 80 to 100deg C. This tells you how hot your engine is running.
Exhaust Gas temperatures measure how hot the gases are coming out of the motor, This is very very hot, usually in the 800 deg C mark. You do not want to touch an exhaust pipe.

The standard 912 has only 2 CHT and 2 EGT, one on each side. The water used to cool the front left piston is the same as the back left piston so it is a waste to test both pistons, the temps will be the same. As far as the EGT is concerned, the 912 has one carburetor for the left and one for the right. EGT temps are controlled by the carbs so again, there is no requirement to measure both left pistons and both right. Some people do but that is their choice
A 503 normally has no CHT/EGT's you have to add them. Here the CHT's are connected to where the sparkplug is screwed into the head and the EGT on the exhaust.
a 582 has one Water temp guage, reading both pistons, so it does not need CHT's. It uses the same EGT probes as the 503.