I always take the dough out and let it sit for 2-1/2 to 3 hours, bringing it up to room temperature. During this time the dough rises and I always thought that this was necessary to further develop the dough. Not being anything close to an expert, am I wrong in this assumption?
To add to what has already been said, the advice that is usually given to professional pizza operators is to use a temper period at room temperature after the dough has been removed from the cooler. For example, see step 14 in the list of steps recommended by Tom Lehmann, at Reply 18 at http://www.pizzamaking.com/forum/index.php/topic,7499.msg64554/topicseen.html#msg64554
. During the temper period, there will be further fermentation of the dough, which is usually a good thing if the dough is not near the overfermentation point, but one of the main reasons--maybe even the most important one--for using the temper period is to reduce or eliminate the possibility of the finished crust developing large bubbles because the dough was too cold. For Tom's discussion on this point, see item 2) in his list at Reply 3 at http://www.pizzamaking.com/forum/index.php/topic,7362.msg63551/topicseen.html#msg63551
The above said, there are professional pizza operators and some of our members who work with the dough while it is cold right out of the refrigerator or cooler without incident. Some might even use the dough cold knowing that bubbling will occur but they do so because they and their customers like large bubbles in the finished crust. But not all doughs lend themselves to being used cold (without bubbles being formed in the finished crust). To a large degree, it depends on the dough formulation and the fermentation protocol and history. My advice is that people try using the dough cold and, if it works and the results are satisfactory, then use the dough cold. If it doesn't work or the results are not satisfactory, then I would try tempering the dough. I have been reading Tom's advice on this matter for years and I would say that well over 90% of the time he advocates the use of the temper period. Some of that advice may be conservative and prophylactic in nature but that is calculated to avoid having to spend time trying to fix the problems that pizza operators have because they ignored or didn't pay attention to his advice.