Cold Steeping for Stout

I am considering making an Oatmeal stout next. I was wondering how I would go about maybe cold steeping the oatmeal into a Cooper's stout kit. I understand dry hopping to help with the aroma but the whole grain steeping thing has me all strung out.

I tried searching it but couldn't find the answer.

Steep it at about 155° for 45 minutes before you add your extract.

As mentioned above, its pretty simple - just heat up some water to about 155, throw in your grains and let them sit for about 30-45 minutes. Remove the grains and then start your boil.

I dont think there is such a thing as "cold steeping" - it is my understanding the steeping process extracts sugars and other goodies from the grains at that specific temperature. Putting your oatmeal in cold water will produce.. wet oatmeal?