Freezing the drive can help with the "click of death" physical hard drives get, because of the placement of the needle and impurities in the manufacturing process.
As this is a flash drive there are no physical parts that will contract when "frozen" so it shouldn't effect the performance at all, there is a small chance the "controller" is overheating...but they go from room temp -> operational temp almost instantly so you'd need to work in a area with an ambient temperature of 0.
Because the computer detects the flash drive, but does not recognize it 1 of 2 things has probably happened.
a) the drive has either failed from a static shock, or other damage to the controller
b) windows has a registry fault.
Since windows installs the drivers for the flashdrive (and its respective controller) only on the usb host that it was active on, you should be able to try your device on another USB port...tho its likely that its a hardware issue