There are no disadvantages that I can see.
I could see where that prog could need to use the extra virtual memory space.
Keep in mind that it doesnt change the way that you physical memory is used.
What it does is to allow programs to address more memory addresses.
Windows sets itself so that windows addresses 2G of virtual space for any of its needs weather it needs it or not and it doesnt. This leaves the other 2G for anything that you may want to do. When enough space is not allocated you will get a "Out Of Memory Error"
A progam has to be written to take advantage of that space and or some progs. have a setting that can enable it. Im not sure of Blender but I would hope so.
Mine is currently set at 4096 to allow the entire 4G address range that 32 bit windows can see mainly because Flight Sim X can use that space.
Adobe Photo Shop also makes good use of the space when it is available to it.
Below are some links to various things for you to see concerning it including the way that it was explained to me.
Also notice in the first post, the reference to PAE as it may also be of use to you.
http://www.techsupportforum.com/gaming-forum/pc-gaming-support/384233-optimization-question.html
http://www.hardforum.com/showthread.php?t=1035670
http://support.microsoft.com/?kbid&ID=929605
http://msdn.microsoft.com/en-us/library/ms791558.aspx
(Notice in this one it says to only use 3G but it can go higher as mine is)
http://msdn.microsoft.com/en-us/library/aa906211.aspx
(This is just to help with the various settings including PAE)
Good luck and post back if this helps with your problem.
Dont forget to look through the Blender program notes to see if it is written to use this or if there is a switch to enable it.
One other thing that I thought of as you didnt mention it.
Depending on your system and memory, check the recommended memory voltage and adjust as necessary. Often times when 2 sticks of memory works well and 4 sticks dont it is due to the voltage drop. Check the side of the memory stick for recommended voltage and be sure that it is set to that in the BIOS.