This only works for specific mechanical failures, and I'd say about 25% of the time. It works because metal shrinks when cold, and this can sort of let a drive limp along for a short period of time to get small amounts of data off.
Drive clicking is the drive arm malfunctioning, and I wouldn't expect the freezer trick to do much if it's a messed up actuator or something. You already know the drive is bad though, so why not.