No, not ice of the variety that could keep me cool here in Houston. This ICE stands for In Case of Emergency. It's a campaign being launched by some people in the UK that encourages you to list emergency contact numbers in your cell phone. Simply enter the number, give it the name ICE, and you're in an accident, paramedics or other responders can contact the appropriate people.
I just put my parents' info in my phone under the ICE heading. It's a good idea that will only work if this reaches a critical mass of people, so spread the word.