Yeah, It does look cool, and maybe you could model pieces of ice/flame coming off the blade, to make it look like it is really flaming/freased. Probebly wouldnt work to well, and would look funny in the game. 
Well, I think actually modeling the flames would look goofy. It might work for the ice, though. I want to see if I can give it some translucency and keep the shine. Regardless, it is a work in progress.
looks kinda cool... Nice stuff for some kind a fantasy mod...
I'm constantly editing my Native files to bend M&B to my will and desire. I was thinking about adding rare, named items, possibly available via quests. I wanted to make them unique without actually modeling new items. This is what was the result of that.
I'd love to be able to create a flame particle effect on the fire weapons and kind of a white steam on frost weapons. That's doubtful to happen with the way particle effects currently work, but it is an option. The black sword is also kind of out of place, as it was my attempt at playing with an obsidian texture.