The motor will get hot through use and is quite normal. It's if the battery gets very hot that you have problems, usually a short circuit or jammed gearbox.
Most guns should be able to take a 7.4 Lipo without any changes, as it's not really much different than fitting a 9.6V NihM, just smaller. If you do go for a Lipo, then either fit a Mosfet with Lipo cutout, so that you can't over discharge the Lipo (that will kill it quickly) or get a Lipo Alarm to fit in the charging plug, which will beep at you if the cell voltage drops near 3V per cell.