I would recommend NOT putting your iPhone in the freezer (or Frig). I do not know if an iphone could pick up enough moisture to activate the 'water damage' sensor, but Why even risk that? It clearly seems the 'fix' happens from heating the iPhone as descibed. I think cooling it quickly via the freezer/frig. would add no value, but may add another big problem. Putting your phone by an air conditioning vent (home or car, would NOT add moisture. But, If I was doing this procedure, I would let it cool at room temp, even if it took 20- 30 mins. Even my A.D.D. personality can wait THAT long. ;o)
I found this MUCH discussed issue when recently researching whether to update from iOS 5.0.1 on my AT&T 4S to iOS 6. Obviously I am choosing to stay right where I am (5.01.). When iOS 7 comes out, I'll wait a month or two and reseach how that has gone for folks. As a loyal Mac and iPhone fan, I used to update with all OS ugrades when released. I have had problems on occasion after an update (on iMac), so my default is to never update right away (and back up prior to). I do realize that this issue as well as many issues that develop do not affect all, or probably most phones/ Macs, but having been in the VERY frustrated 'problemed population' before (4S poor battery life out of the box), I want to lessen my chances of problems. Like, would you pick a pass code of 1234? Sure it works, until it doesn't. Like longer passwords, I like to increase my odds of avoiding problems.
It was very hard to go non iPhone, but my wife recently lost her iPhone 4 and wanted to go with a 'bigger screen' for work (she's an admin and views her phone screen alot). She chose to go Android (LG Optimus G Pro). She loves it (and I do too ;o) But she is in a Windows world, so there was no inteface downsides for her. I have always had Macs. But because of all the problems I (poor battery life on 4S) and others have had AND the sound of "C R I C K E T S" from Apple on this and other issues, I am researching Android/Mac syncing and interfaces. They are not as easy, but I well may jump ship to Android for the OS and maybe a 5" screen as my eyes are not getting better. ;o) Sad to see Apple in this light. I don't know if it is related, but I do miss you Steve.
PS. Playing with the wife's new Andoid LG has surprised the heck out of this die hard iOS/ Mac devotee. I find the OS VERY user friendly and even more useful than my iOS. Even just the simple things like being able to CLOSE all open Apps with one key stroke (HUGE + to me) and show a contact # on the lock screen, as well as many other things I see I can do on Android that I cannot on on my 4S. I'll stop now. Sorry my intend was not to do a change OS speach..
Best to you all in your iOS and real lives!