Short of being told the answer (which I don't know), this is easy enough to test. Feed the same 44.1k file to the encoder, with and without the switch. and compare the output.
As far as i know, the sample rates higher than 44.1 don't bring any advantages. Besides Vorbis is lossy codec, and I guess it is best tuned to work with standart sample rate, rather than higher ones. I don't know if Vorbis has a built-in resampler, but Foobar has a great ones, called SSRC. You can activate/deactivate it in DSP chain, with one click of the mouse.