I hate to burst any bubbles but those cryo bulbs and spraybars and whatever they are are pure junk. They are a perfect application of a great idea with poor execution at best. It is not there fault, the technology is just not there to support what they are trying to accomplish.
I'm not saying it doesn't work because it does, but the effectiveness cannot equal even a 50hp shot of N2o. The cooling effect of a 50hp shot surpasses those devices by increasing the oxygen content of the aircharge chemically as well as the cooling effect increasing the air density.
If your racing class prohibits the use of nitrous and you don't want the hassle and extra weight of a water to air heat exchanger, then be my guest because technically they do work, but they can be easily outdone by all the methods listed previously.