I cannot find the reference right now, but I believe some studies have shown that EtOH concentrations greater than 70% are actually less effective because they quickly dehydrate any bacterial capsules that may be present, causing a protective "shell" to be formed around the cells, preventing cell damage and death. As a polysaccharide biochemist, I can confirm that higher alcohol concentrations will cause exopolysaccharides to precipitate and form a hard layer of dehydrated polymer that remains hydrated in the middle, so this certainly seems plausible to me.
You have to know that ethanol need water to denature bacterial proteins. So, when you concentrate ethanol, available water is less and a the action too.