Yes a refeed can definitely be productive while in an aggressive cut. The key tho is to focus on carbs while keeping fat minimal (no added fats).
The goal of the refeed is to hack the body's metabolism to partition the additional food to glycogen stores and not fat. Also may help in keeping metabolism from down regulating and increase/ sustain gym performance.
I'm a month into contest prep and have been refeeding once a week on 1000+ g of carbs and still dropping 1-2 lbs a week with no cardio. On my refeeds, fat is kept to trace fats (~20g for the day) and protein is lowered to 200 (from 275). Everything is pushed to carbs (frosted flakes, cream of rice, jasmine rice, sourdough bread, maple syrup and honey).
If everything is clicking, don't be surprised if your hungrier on refeed days than low days. This is a good sign!