I've heard of people doing this, but I haven't tried it. I take blue shop towels and if I need a wet one, I get it wet.
For an idea of weight savings, I compared dry shop towels to Sea to Summit Wilderness Wipes; it looks like you would save about 1 ounce per twelve wipes carrying dry goods instead of wet. Imprecise comparison, I know, but it was as far as I needed to go to reach a conclusion. I think drying out wipes is overthinking things until you get into really long durations, but I had to overthink it to reach that conclusion.
I don't know about losing active ingredients with drying out wipes - I guess most have aloe in them along with some other stuff. Based on my experience of dish rags drying out, then getting sudsy when they are rewetted, I think the wipes will bounce right back if you decide to dehydrate them.