This isn't a bug, but just a graphical issue. It seems there are no cold damage animations! For example, you can verify this by attacking an enemy with Varscona: you can hear the characteristic sound but can't see the animation.....
There appears to be more going on here than just the cold animation. Try using the wild surge keys (PM me or contact me on Skype (because I know who is going to read this and we talk there too) if you don't know what I am talking about). Use the surge keys to force the "Explosion?" wild surge (surge #10 I believe). Notice that the "initial" fire damage animation plays, but the small flames that are supposed to randomly burn over the target's body afterwords do not (compare to BG1:EE). The same happens with the small arcing of electricity that is supposed to appear for a while after taking electric damage.
I can confirm this in bg2:ee for Ipad. Wow, way to go, the patch just destroys the little enjoyable visuals like these. I can't think a reason why. Weird, weird patch. Definitely not my favourite.
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Thanks