Off the top of my head … you could take a photo of an ice surface and place a text layer over that. Apply perspective>bevel alpha to the text, then apply a non-normal transfer mode to the text layer so it affects the ice surface. Cycle through the modes with the + and – keys at the top of the keyboard.
To get the text to carve on, you have to draw masks on another layer that follow the text, as if you were writing it on. (a T would be two masks – horizontal and vertical) You would then apply effect>generate>stroke and animate the end point of the stroke (“all masks”) to make it write on. This layer would be used as a track matte over the text layer.
You might then add little bits of particles (ice spray) at the point where each leter starts, ends, or where each stroke ends. That could be a lot of work though. Make one little emission (ice spray) and render it on its own, then place it in various places on the screen.
Anybody else?