Not really – the maths actually says that it’s exactly double (though that’s at the outer edge of the tyre, it’s reduces proportionally towards the axle centre.
Only for acceleration, not for climbing (which is when most people worry about weight). Proper scientific analysis shows that you expend a tiny amount of energy on acceleration, even in a group changing pace a lot – not that the peleton yesterday was doing much changing of pace with “motorbike” Wiggins sitting on the front! Far, far more energy to be saved by aero wheels than you lose by having to accelerate them.
Actually I realised the numbers are easy – to accelerate a 100g rim from stationary to 30mph costs 18J (KE = 1/2mv^2 – times 2 to account for the linear and rotational KE). So even if you’re making a standing start acceleration like that once a minute, the wheel only has to save 0.3W in aero drag to be worth it!