Parapapa?,
You were coming close there at the end.
First, you are correct - even at low flow rates, the increase in temperature from inlet to outlet in the WB is very small. See my earlier post for a few examples.
The problem is not the mass of water required to remove the heat. The problem is with the efficiency of the heat transfer between the block and the water.
First, all heat generated by the CPU must transfer to the water, unless it it lost to other sources (air, MB, etc). To transfer the heat to the water, it must be 'pushed' into the water from the block. The only way to push heat is with a temperature difference. So, the block must be warmer than the water for the heat to flow.
How much warmer the block needs to be depends on the efficiency of the transfer to the water. If the water is not moving, all heat transfer would need to be through conduction. This is not very efficient with water (though better than air). To improve heat transfer, the idea is to move heat just a little way into the water next to the block, then move away that bit of water and replace it with another bit (simplfied example). This type of heat transfer is called convection (convey = move).
The faster you move the water, the more efficient this process becomes. However, since water next to a surface tends to 'stick' there without moving (friction et al), just moving water through the pipe slowly sometimes isn't enough. The water in the middle of the pipe might be moving, but the water velocity decreases as you come closer to the pipe walls, and eventually approaches zero - back to conduction again.
This is where turbulence comes in - if you can get fluid from the center of the channel to 'mix' with fluid toward the walls, you end up with more efficient heat removal. Turbulence increases heat transfer significantly over slower 'laminar' flow.
Turbulent flow occurs 'naturally' in a pipe when the fluid velocity exceeds a certain point, which is dependent on a lot of factors. Also, turbulence isn't an on/off thing - you can have more or less of it. Moving faster will result in more.
So, in short
)) moving water through the block faster improves heat transfer between the block and the water, which reduces the temperature differential between the block and water required to move an amount of heat. It is not intended to reduce the temperature increase in the water as it travels through the block.
Note: as with everything, the improvement in heat transfer has diminishing returns.
Hope this helps.