To expand on Bill's statement a little, how much heat is transferred is comparitively constant for a given system. This doesn't take much thought to deduce. Just ask yourself a question, "Does the rate of water flow have anything to do with the amount of energy my CPU is using?" The answer is a definite "No".
What does change is the total power put into the water, as creating higher flow requires more pump power. So long as the pump uses less than 1/3 the power of the chips being cooled, this is generally of no consequence. When folks start putting 200 watt Little Giant pumps or the large Iwaki pumps in there, it's another matter.
I think what you were trying to get at is that 1/2 the flow volume moving twice as fast would be more efficient than one unit volume moving at one unit velocity. Generally speaking this is a true statement. Note that creating these circumstances means changing the flow pathways, so construction of those pathways also plays a part. ie, you can make a pathway half as large and double the flow speed, but if the pathway doesn't work well with the die it's no good.
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