Way to long cast time for what it does and the description still makes me think it is a lasting effect like ACN's Shadow Flare. And I would probably be fine with the spell if it actually was. Maybe switch the Bind effect for something different like para, heavy or slow (ya like shadow flare).
I haven't found a single situation I would use Freeze in (Bind in general isn't hot in EG). Even Aetherial Manipulation is better.
Would be the #1 request/suggestion to change about BLM.