I'm not sure I've quite understood your question Fizzy.
The axle pump is either putting water into the boiler – when required – or not (if the boiler is "full" )
The surplus water (via the bypass) either has to be returned to the tender or just be discharged – there is no where to store it as such. So returning it to the tender saves water.
I may have missed the point of your question but the simple answer to your question appears to be – yes, there is a good reason to return surplus water to the tender…
Regards,
IanT
Edited By IanT on 12/06/2015 09:17:59