It's less to do with the coat and more to do with the neoteny in mastiff breeds. Basically, the shortened muzzle can monkey with the nasal passages and make breathing more difficult (which is why many mastiffs snore loudly, snuffle a lot, etc.) and hotter weather exacerbates this. There is also a tendency among some mastiffs (show-style DDBs come to mind) towards narrow nares (nostril openings) that cause further impedence and intolerance to heat. A short muzzle is just less effective at allowing nasal blood vessels to dump excess heat on an exhale, that's all.
As to cold weather tolerance, I've not had a mastiff that couldn't hack it in sub-zero temps even with the single coat EM. All the same, Oscar has a winter jacket for extreme cold and we keep an extra close watch on his paw pads to make sure the ice doesn't cut them up.
~Marrow