http://www.underrail.com/wiki/index.php?title=Cryo-ShieldThis ability always felt weak, compares very unfavorably to
http://www.underrail.com/wiki/index.php?title=Pseudo-spatial_Projection for one, and any other defensive measures, it's not that it isn't balanced with its very low AP/psi cost (it is), but more that it feels like a waste of a psi power slot.
I think it would do much better as something that offers little to no physical protection, procs slightly more often, and does something active to your attackers, like it Chills them, or even better, casts Cryokinesis at something like 20% of your Metathermics skill at them.
Another option would be to make it much more costly as far as AP/psi and have it offer resistance to cold and immunity to freezing and chilling debuffs while it's active, somewhat similar to Exothermic Aura, with careful balance to not impact certain Lunatic mobs too much unless you've invested heavily in the right direction.
If Cryokinetic Orb takes inspiration from D2's Frozen Orb, the Cryo Shield could certainly take more inspiration from the D2 Frozen/Chilling/etc Shields