I just tested it out.

Apparently it has something to do with the fact that since the first part of the application is a magical root (which is subject to DR), you can't chains of ice someone too often or they simply because immune.

Sadface.

I think this might be another reason why they're getting rid of the root part, so it actually won't have DR.

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aka Leiah
/cast Slap to the Face
http://jadefury.blogspot.com

It's a bug. It should not diminish.

Chains of Ice is a physical slow with no diminishing returns that cannot be dispelled. Enjoy.

Because the debuff starts at 0% movement speed for a second, it feels a little like a root, but mechanically it is not a root nor a freeze. Apologies to the Frost mages, but I'm not sure it's a great idea to have so much synergy between two classes. That was the sort of thing that lead to warlocks and shadow priests cackling over +Shadow buffs and pushing mages out of raids.

GC, I assume Hand of Freedom (and Free Action pots) still works against it?

Correct, Hand of Freedom will effect it just like other movement impairing effects, as will pvp trinkets etc. The key difference is that it is no longer considered a Magic effect and thus is not vulnerable to Dispel Magic, Cleanse and the likes,