Is it possible to use Piezo Cooling instead of Passive or Liquid.

No, you're thinking of Peltier -- not piezo-electric, which is the technology which creates current from flexing like a transducer microphone, or weight scale.

Modern chips have a heat density greater than Peltier's highest efficiency. Liquid coolants can carry more heat away than air flow, and fanned air flow is better than passive heat sinks. When today's CPU's have TPU ratings equivalent to incandescent light bulbs, solid-state cooling can't keep up. This why supercomputers are always liquid-cooled.

liquid > air > Peltier > heat sink

Also, like your linked article reminds us -- most "commercial" Peltier products are crap because it doesn't scale well. I owned one of those portable camping coolers, and it sucked.

Interesting idea, but I'm afraid that a Peltier cooler will not cool a CPU efficiently, if at all. I was looking into it last fall at work as a way to cool some sensitive components in a circuit and I thought "Hey..." Unfortunately, some research led me to find out that, as garlin said, the heat density of a CPU is far and away above the cooling capacity of a Peltier cooler. You might be able to pull it off if you had a big enough one, but it probably wouldn't fit in your case, or it would be prohibitively expensive.

BTW, the Peltier coolers worked for my application as they were just little chips and FET transistors, which leads me to wonder if a Peltier cooler could cool the FETs on a motherboard? Or maybe a Northbridge/Southbridge chip? Note that you still need a heatsink to carry away the excess heat that comes off of the cooler pad, otherwise the efficiency goes way down. With needing a heatsink and possibly a fan, what is really the point? Unless you want to cool the components to a lower temp than is possible with just the cooler and fan.

I see a growth industry ahead, but it will be a few years before the coolers get to be more efficient. Not to mention cheaper.