Tests done by Boeing/Sunstrand demonstrated cryogenic processing extended the life of circuit boards in military applications, specifically boards used in cruise missiles. Tests done by Honeywell on experimental thin film magnetic memory wafers showed increased conductivity of metallic layers, reduced residual stress between layers, and possible (but not fully confirmed) "healing" of vacancies in the layers. Tests on transformers showed treated transformers had significantly less hysterisis. The magnetic core saturated less. Tests on transistors showed a decrease in rise time. Other tests indicate greatly increased contact life on relays, switches, and circuit breakers.
I found this quote on a thread on the gearpage having to do with cryo treated guitar pickups. Don't know the original source