How about some good old fashion personal experience .... I am a triathelete and self admitted, addicted to exercise.
When I do a typical 1 hour weight work out (heavy weights) I experience no increase in hunger that day or the next. I don't really experience a decrese in appetite either.
When I run/cycle at high intensity I experience a decreased appetite afterwards. I ran 20K this morning, it's 2 1/2 hrs past lunch and I've only had a flax muffin and a couple of coconut bark squares since breakfast and I'm not hungry. Am I more hungry the day after a long run? No. Not that I notice. I eat nearly the same thing every day so I know I do not eat more the day after my long runs.
Last weekend I did an intense climb that was 7 hrs, my average heart rate for the 7 hr period was 149. I didn't eat anymore that day that normal (although I should have eaten more during the climb). The next day I
did notice that I was more hungry than usual. But I only had an extra flax muffin, not an extra meal.
My opinion on the will power thing is that it's more attitude than will power. Some people (I used to be one of them) tell themselves that they've earned the treat. I don't really think it's will power because when I changed my attituded towards earning food I stopped doing it. (Now I have to do at least 2 hrs of cardio to 'earn' something - lol).
Also, I've lost about 10 lbs since last spring when I started LC. This was also when I started exercising a lot more (was training for my first half ironman). In my experience diet was 80% of the weight loss, exercise 20% ... and that's being generous. Burning calories doesn't matter. I burned over 3000 calories in that one climb last week and I still didn't lose any weight this week (I also did an additional 4.5 hrs of exercise).
Anyways, interpret as you will
Edited to add: I did go from a size 14 to a size 10 and I attribute 80% of that to exercise and only 20% to diet. I've been this weight before and normally would be a size 12, not a 10