I think we can say with confidence that one thing we've all come to dislike in this game is Dots, they're gotten annoying as more bosses spam them, and while ice may have the only spell to get rid of them (actually just take away time from them) it really doesn't help if your not ice.
Making cool down a maycast is awesome because it'll probably have a high cast chance given cool down is not a powerful spell, but it'll still be pretty convenient since Dots are still so annoying, it's the best of both worlds!
Ice is not the only school that can deal with the Damage over time spell. Life can cast Triage, which removes the ENTIRE DOT from one person. Ice can remove one round of the DOT from everyone. I play both life and ice, and like to keep both of these spells in my decks, particularly the ones designed to go after schools most likely to cast DOTs. It's possible Life wizards are not making as full use of these spells, since you only noticed the ice wizards dealing with DOTS. I believe there is, at least, an amulet you can get that lets you cast Triage.