One way to narrow things down is to install the drive as a slave in another computer if possible. If it still has the "Click of Death", you'll at least know that the problem lies with the drive and not your computer. As for the freezing, catweazle is right- it's only meant to be a last-ditch method to allow you some time to copy off your critical data.
However, people on other tech support forums have reported a variety of results for different variations of the freezing fix: I've used the method sucessfully a few times recently, but I've only had to try it once on any given drive; I've read posts where a second freezing is what did the trick. I've also read threads in which the poster said that their drive had been running for months after trying the deep-freeze only once. Of course, there are also those whose drives were too far gone for the freezing to work at all. YMMV, it seems.