Those CPU temperatures look pretty normal for a laptop. Was the laptop idle when you ran hwmonitor? If so, try looking at the temperatures and clocks while browsing the web. Maybe download Prime95 (stress testing tool), run it for a few minutes, and watch the temps and clocks. Note: it will get hot while doing this, so definitely make sure to not block the vents (not that you should ever do that). The nominal speed for that 720QM is 1.6GHz, and if it ends up far below that when under load, you might have a problem.
And one more thing to look at - it's often hard to check this via software, but the fan appears to be working, right? You should hear it spinning faster while prime95 is running.