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If Google is to be believed, frozen blood doesn't look much different than unfrozen blood, so I'd go with what GW did with their Bloodletters and have a deeper red towards the handle and a brighter red towards the tip for the base blade. Then stipple light grey and white around the edges very lightly, and maybe around the entire tip to get a larger frosty area as just frozen edges may not look good enough to convey the idea. The whole thing will probably benefit from a finish of satin varnish.
AK Interactive sells ice sparkle effect. It's fine grain for basing, but I think given the size of hellblades the grains wouldn't look too big on a sword. That's also a way to get frost on the blades, I reckon.
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