Bread won't rise during proof after overnight fermentation
Overnight proofing in the fridge is a great way to improve flavor, as you suggest (creating more alcohol and allowing a better gluten structure). There are a couple of things you should keep in mind. First is the temperature and length of your bulk fermentation. Too long and/or at too high a temp it could be using up most of the sugars, and the yeast could be simply running out of food. Are you doing this fermentation above 75°F? Second, too much salt in the dough will negatively affect your proof.