I am not to sure what they meant when in the old days they said frozen, ice,or cold tempered...
My familiarity with Cryo-dropping has to do with rifle barrels, and the "supposed" benefits of doing the processes..
As others have posted the temperature must be lowed gradually down to -373 F the benefits are to include less harmonic vibration, better accuracy, a slicker bearing surface, more velocity, easier cleaning etc:etc:etc: there have been tests to confirm all these claims so I guess there are tangible benefits to getting metal cryo'd
I don't for a minute believe that this is what any razor manufacturer was doing though... I think it was more like the newer Dovo Ice Hardened Blades...