The short term memory of the rats became worse at the beginning of cannabis usage, but after prolong usage you could tell no difference in the rats short-term memory abilities.
If you have ever smoked weed you'd know that it increases creativity. When you first start smoking the brain is not use to such an increase. The body and brain probably isn't use to such an sudden increase of effect. So the brain grows more neurons to handle that extra juice of power. The brain uses a 1/3 of your body's energy so yeah when you first start your short-term memory is going to drop a little.It's like a working out your brain.
When your work out your muscles do they become stronger the next day or do they become stronger a couple days later? Your muscles are weaker the next day after a good work-out.
When you work out your muscles do your muscle fibers die? or are they regrown stronger and bigger?
That's my theory.
To my knowledge this is a complete Fallacy, from what I have commonly understood about Neurology the neuron's don't 'Regrow', when you reach a certain age they aren't reproduced with the exception of neuron clusters that are linked to the Nerve system.
Neuron's are adaptive, they do regenerate Axon pathways but that's because the brain is an adaptive system it's constantly closing down old unused pathways and strengthening ones that are constantly used. (This is why if you repeat something enough times you remember it as opposed to something you see once in your life, although if it's something important you attempt to remember it by of course repeating that instance in your imagination. ergo every time you repeat it, you strengthen those pathways that are assigned to it.)
What you could suggest in the case of University students is not so much that the Cannabis is making them clever, however their logical perception is altered through their state of mind. What is increased however is the amount of Dopamine within the pathways chemical communications, this increase in activity can strengthen pathways and even cause communication across pathways that aren't used so regularly (This is apparent in regards to Parkinson's, Alzheimer's and even Multiple Sclerosis in regards to motor functions).
I'm not saying that anyone with a disorder or disease mentioned above should go out and smoke cannabis now. After all they should seek medical counsel and ask about alternatives since not all of the chemicals from Cannabis are necessary.
As for the strengthening of pathways, Increasing them through strengthening doesn't necessarily make a smarter person, in fact it's probably the main reason for the elevation in paranoia in Cannabis and other drugs (Since an increase in long term memories can occur, only "serious" noteworthy events are remembered, for the most part this means either things that are seriously important to you like a fond memory or all the things that go wrong in your life that potentially echo with an increasing depressive context).
As for Cannabis itself, Like I said in another post it's overall psychoactive THC compound is very similar to a number of Gas compositions, so much so that snorting Butane is just a higher does of the chemicals found in THC. Usually such use of Gas (or solvents) actually Kills brain cells if done excessively, obviously smoking Cannabis won't be to the same extent as sticking a can of lighter gas up your nose however it is still poisoning you the same way just in a lesser concentration.
As mentioned in another thread Smoking Cannabis Pure or with Tobacco will also add other chemical compositions to the list of poison. One of those being Cyanide (Again its an extremely low concentration but a poison none the less).
I have seen first hand what excessive 'Street use' of Cannabis can do and the overall effects are not good in the long run.