I've run myself around in circles trying to figure out what I think about that, sx, and the simple answer is I don't know. Colder air usually helps, so you're probably right. In terms of peak efficiency, though, I think the limiting factor for turbos is generally the mass of air they can pump, in which case denser air would just mean a slower-spinning turbo pumping the same volume of air. This might be a matter of where the bottleneck lies. If the turbo is pumping all the air that it can find, then a cooler, denser intake charge will give it more air to pump and increase power and efficiency. However, if the turbo is already at peak efficiency, I don't think you'll see noticeable gains from a cooler intake charge since ~85-95% of the temperature difference is handled by the intercooler anyway.
I may be way off on this. I have a pretty strong grasp of physics and especially thermodynamics, but I'm no expert on turbos. I'm a math major who took a few higher physics classes, not a fluid dynamics expert.