The logic is illustrated by hero's consternation -- the bet will often fold out a bigger pocket pair, especially given the possibility that EP will call with less than an A. In a big pot it's definitely worth a stab.

In a hand I've posted about before, David Pham made almost this exact move on me in the WSOP earlier this year and got me to fold QQ (he bet an AA6 flop, I called, 3rd player raised, Pham re-raised, I folded, Pham won the hand with 77). Maybe I suck, but Pham doesn't.