The Freezing Arrow does a respectible damage of 1000 and freezed the creatures for 4 seconds. This can be a useful skill against those pesky "Physical Immunes." If not for physical immunes, the standard Hit Power Bowzon would be a great build. However, there are many physical immune creatures in version 1.10 of Diablo. So you need to do something to compensate.
In the Cold Bowzon we put zero points into Strafe, pump Multi-Arrow to a conservative 5 (12 or 14 with equipment) and assign the salvaged points into cold skills.
In the Cold Bowzon we do not have the extra points to assign into Penetrate and Valkyrie. This is the cost benefit of developing the cold skills.