Actually, it probably wouldn't make any difference to the performance of the loco, though as you say it will affect the torque between the 2 gears - the smaller one will chew up the worm gear faster than the big one! The gears are still rotating at the same speed.
Think of the worm taking one revolution. Is that just one tooth of the worm gear, or does it move more than one tooth? With a worm setup, the gear ratio (and thus the torque provided to move the wheels,) is a function of how many motor revolutions for 1 revolution of the axle/worm gear. Changing the size of the worm only affects that if it is a different kind of worm.