Low level Ice Elementalists should learn this as soon as possible to give themselves a ranged attack, but should not consider this a replacement for Freeze. Freeze costs half as much, has perfect accuracy, ignores AC, deals comparable damage, and slows cold-blooded monsters. At low spellpower, Throw Frost is significantly less effective; it's a common mistake for players to waste most of their MP casting Throw Frost as an enemy approaches, leaving them with nothing in reserve for melee range. Until you get some magical muscle behind your casting, you might be better off hurling javelins until your foe gets close enough for Freeze. Once you do get Throw Frost to higher spellpower, however, it becomes significantly more capable, worth using in conjunction with Throw Icicle well into the mid-game.
Throw Frost