I would opt for 13" wheels. Lowering the trailer a little can make a big difference in loading and unloading your boat on relatively flat angle ramps.
If you are overheating your bearings the most likely cause is your brakes not releasing fully causing friction heat being transferred into the grease breaking it down.
Good quality bearings and fitted and adjusted correctly will definitely not overheat at 110kph.
Look at the little Mini cars that used to drive around on 12" wheels that did not have bearing issues... in fact it was uncommon to do a bearing on these cars.