Can't hurt, and you may end up retaining more of the hop oils with lower flash points, but I don't think it will work nearly as well as a hot hop stand. I find that the biggest benefit I see from a hop stand is improved hop flavor. I'm sure there are benefits to the aroma side as well, but I dry hop the hell out of my hoppy beers, so I don't know if I'd notice how much of a difference it makes. I do see a significant boost in hop flavor, though.