Refridgerators/freezers are not that good for cooling the way that old system was setup.
Maybe o.k. for the old 25-30w processors.. anything over that and that setup will not be able to handle the heat output.
Now if the cold plate was submersed in the liquid and the fridge had a much better radiator on it, it would be a diferent story. The crappy tube with little wires on it to cool the hot side down doesn't work very well at all.