A cooler charge means denser air, which increases the oxygen available for combustion. Hence intercoolers on turbos and all the cool air intake devices like hood scoops. But that does not change the amount of fuel by itself. The 0 HP increase test results from the dyno may well have been without the engine heat soaked and definitely not under a hood in a hot engine compartment, and so any HP increase due to denser air would not have been seen; it would only have checked the effect on exhaust flow.