Agreed, it will only cause good things
However, even with the valve disabled, that only prevents exhaust from entering your intake. The EGR Cooler itself will still see high exhaust temperatures (albeit not as high as if it was flowing through). If you have any concern about coolant boiling in your EGR, oil cooler restriction, or the EGR leaking, the best thing is to get that thing out of there ASAP and either install a BPD cooler (if you want to keep EGR Functionality) or a delete.
The 03 Round coolers are known to be more robust than the later square ones, but are still not failproof.