After I killed frostfinger (bounty) I got some kind of ice shield spell, but it uses up one arcane stone, so I dont think its worth it. Plus I had to expend 5LP to get it, bit of a waste.
If you're being chased this is a good spell to cast while running, if you have the spare arcane stones. It'll basically drop a freeze bomb that has a good chance of freezing/killing your pursuers. There aren't a lot of spells, so far, that use the arcane stones so this is a good contingency spell.