I hate to say it but cold air is not a MPG friend. Optimally the IAT should be between 100-140*F for MPG reasons any colder than 100*F at the IAT you'll lose roughly 1 MPG for every -10*F of manifold temperature. So the fooler changes the timing value for the engine typically will optimize the MPG numbers.
More on the MPG thing... Liquid fuel will not burn so you need enough heat to optimize the conversion rate from liquid to vapor to create better MPG's so the fooler is only part of it but actual manifold heat will optimize even more with the MPG fooler...
Trust me I live in New Meadows, ID and see winter temps as low as -25*F and it will suck the MPG number down hard core without the fooler.