Indeed, while in this case it does eventually go to ground anyway, you don't want to be grounding any unused lugs when having pots as variable resistors as you might be grounding parts of the circuit that shouldn't be going to ground.
Also as a rule of thumb you want to stick with the indicated value when using pots as variable resistors more so than when they are voltage dividers, as the maximum resistance obtainable is likely to be a desired one.
An non pot-related question about the EP3 while I'm at it: does it offer some volume boost when cranked or not much? Would it be offering the 11dB claimed by Dunlop for their EP3 pedal or is it a different circuit/design altogether?