A theory is "a likely assumption unproven". It not a theory. I employ refining my hubs after publication all the time. It works in favor of your hub score. However, here is how you'd kill the traffic to the hub. Once it's initially published HubPages works with Google to index it on its search engine. Significantly altering the content will "push it down" the line in search results. The almost death blow is editing ANY PART of the title. I did that to my hub "Canonization: How God Proves to Us the Bible is His Word—Rule #3" by correcting a typo I made with an "S" after "Canonization". My score once was 77, since the edit it has hovered around 68-69.
Refine ONLY (each time)
3% or less of total hub content (with bold facing, CAPS, punctuation, 45 words or less of new info, etc)
add a photo or capsule, esp links (don't delete none)
put it in a group
after 2-3 consecutive reader comments add an individual comment to for each response. let at least 2 hours pass.