It simply doesn't work, once again, have you done it yourself? It weakens the purity of the signal, and still produces undesireable overdrive, trust me, I have done this and worked at it for a long time.
Simple maths and science cannot help sometimes against a trained ear.
My effects loop is footswitchable and modified. You will also notice when connected to the effects loop you loose low end, thats why my effects loop mod actually disconnects the jacks from the circuit also.
I also find it incredibly hard to believe that people would find an effects loop 'overloading' desirable, I personally myself would be furious if i'm trying to play a sparkling clean passage with delay and its creating filthy rubbish in my signal.
Once again, use your ears, not always science, how else did Mike Soldano discover 39k on the third gainstage.