It does that because of tension. Will it still have tension on reused bolts? yes, but not the proper amount. I'm sure some people have been fine, but it still doesn't make it right.
I'm guessing the people that are saying they are fine, never took a Statics or strength in materials class in College.
So the question remains, if u-bolt re-use is a no-go, why is it ok to re-use any other fastener? If there is a difference, I don't understand what it is, between a u-bolt, and all other fasteners that are under tension.
As I understand the basics of steel, as long as you don't go past it's yield strength(? no, never took any of those classes lol) it will never break, no matter how long it is in use, barring external factors. That is my understanding on how the torque specs are derived: Fastener diameter, thread pitch, and material used in fastener, and material it is threaded into/onto.
I'm not arguing, I just don't understand how a u-bolt is different than my favorite example to compare to, lug studs. Most of us end up loosening and tightening each one hundreds of times, without a thought. The question would seem valid for others like the shackle bolts, power steering box bolts, etc. as well. GM specifically mentions certain fasteners to not re-use, u-bolts aren't one of them though.

Of course that doesn't mean it wasn't an oversight.
If there is a difference, I would like to learn what/why there is. I certainly concur with the "just because it has worked doesn't mean it's right".