Doesn't quite match the OP's description that it covers the caster in water as animation/effect (I don't know, never tried the spell)
It's a water spell that cover the player in water. Immune to freezing, freeze on contact. I tested to see if it was just a bug in the description but I indeed catch fire easily when using it. What I think happened is that devs designed a water spell but assigned its stats as an ice shield. If it were ice it would make more sense to be weak to fire.