Frost weapons really aren't as OP as a lot of people are saying. It's just like every other new weapon release when everyone says how stupid it is. 

When you consider the fact that it is, generally, wounding on a 2+ and AP3, it's going to be killing most of your models anyway. As pointed out by Optimus prime time, the majority of your army is single wounds, so don't fret too much. It is still pretty much the same as a battle cannon dropping a shell on you, or grav weapons pounding heaps of wounds on. 

The next thing to consider is that most multi wound models are big, and with that comes a high strength value. Okay, you may still have a considerable chance at 33% or less (assuming str 4 minimum), and of course it will fail you when you need it the most. However, the same can be said about most other weapons. There is a considerable amount of force weapons and insta kill shits around, this is just another one! 

I don't think it will be a game changing weapon. It is giving the codex a unique feeling, which is great. I can only hope that Dark Eldar get something truly hilarious when they are finally released...
Is 2+ instant death too much to ask for? 

- out.