I would say don't rock the boat, this sounds like a good reference.
Now if you weren't definitely leaving, I've often told my boss I'm quitting because of wages and been given a raise or one-off bonus. In fact one place I worked I was earning double what some of my colleagues were because of this.
The risk is though, it all depends on how valuable THEY see you. I've known guys do it and simply be shown the door.
It's like the old saying, if you rock the boat make sure you're holding both the oars!