While I do give my plants a bath whenever I change the reservoir, you are in fact supposed to put h2o2 in your reservoir regularly to help keep it sterile. Here are a couple of helpful links that I used to get this info, though I have more if you'd like.
http://boards.cannabis.com/hydroponics/67850-bubblicious-problems-root-rot-2.html
http://www.gardenscure.com/420/hydroponics/26759-hydrogen-peroxide-h2o2.html
Basically, h2o2 doesn't last very long as a compound, it is really unstable. So if you want to use it to keep things sterile, you need to add it on a regular basis. As well, an added benefit of using h2o2 daily is that it increases the amount of dissolved oxygen in the reservoir. This not only helps fight root rot, but improves the overall health of the plant as well.
So, simply bathing your plants might help to clear up some of the rot, but you are doing nothing to prevent it from coming back. The best way to maintain a clean reservoir, and prevent problems from recurring is to use h2o2 daily (along with keeping a cold, dark, oxygenated reservoir). It is non-toxic, and it's not harmful to the plants, in the same way that using h2o2 on a cut won't poison you; it only affects dead/unhealthy tissue (unless you use it in extreme amounts).
Again, this is not to say that your bathing method won't work, I've honestly never tried bathing just by itself. But, it is definitely ok to add h2o2 to your reservoir on a daily basis, so don't be shy with the h2o2