The only thing I can possibly come up with is that it might be a more consistent temperature. If you just carry your ammo in a normal container, it's temperature would vary wildly depending on the weather of the day or where it was stored. A hot day in the car might put it around 110 and a cooler day with it in the back of your truck might see it around 50. A pretty big swing, factor in some winter shooting and it would vary even more.
In a cooler with ice. Your going to get a fairly consistent temperature, maybe 40 degrees or so, regardless of conditions. So you can work up your load and setup your rifle to perform with that in mind and probably get more stable performance.
That's the only reasoning I could come up with, but I would never bother, I'm too lazy for all that worry.
Mike