The purpose of the practice is to cater for loss of airspeed when you enter ground effect. Glider pilots know all about downwind turns.
It is possible that with a strong headwind and as you descend the headwind drops off dramatically in very the last last portion of the approach as the wind is slower at the surface than at a few hundred feet. If the wind drops off by 10 kts suddenly an aircraft could suddenly lose 10kts of speed as the aircraft will not accelerate instantaneously.
However if you increase your Vref you must adjust your landing calculations and most small business jet manuals do not have sufficient information to do this.
There is a very useful FAA paper on increased landing distances with higher Vref. One type I have flown states that for every extra 5kts over Vref LDR increases by 7% unfactored and 10% factored, it was a turboprop. Part Ops states that if you adjust your landing technique you must adjust your LDR appropriately. But you will not be able to do this unless it is software based as the calculations will be complex as you are not allowed to consider more than 50% of headwind for calculations etc.
Much simpler and safer to stick to the flight manual speeds unless you have a capable software package on the EFB which you use in flight.