Optical storage currently is things like BluRay (non-volatile), plasmons, delay lines (both volatile), or Bose-Einstein condensates (requiring extremely impractical cryogenics).
All of these are much lower density than magnetic (hard drives) or electrical (RAM or flash).
I've not heard of RAM or flash having thermal issues (though I'm sure it would happen eventually), but that suggests 3D stacking is easier for storage, which would remove that potential advantage of optical.
One thing I've seen suggested for optical computing is to create optical elements (e.g. lenses, holograms) that represent the same transformations as a layer of a neural net; they're not at all space-efficient and any changes to the network requires basically replacing the whole thing, and you can do a similar thing with a suitable network of hard-wired resistors and transistors, but they're an interesting idea that I see come up very occasionally.