I don’t know how ‘aggressive’ this effect supposed to be, but currently the overall timing of its impact makes it look like it does not deal much damage and mainly uses for freezing effect. If the goal is to make a powerful ice missile, I would add a makes the explosion brighter and lasts shorter, with smokes less opaque so it would not takes away much attention from the overall effect.
The ice on target is nice! It looks beautiful. I personally would make something like a shattering effect once it expires, in addition of it dissolving.
The ground effect I think looks more like a water more than ice. I think the center should be white, then tapers into blue and (if possible) translucent. Icicles is too thin I think. Retracting them is fine in my opinion, but maybe it should retracts faster and persist a little bit longer?
Overall I think you are on a right direction! Keep up the good work!