From what I have seen of CO2, it is not injected in to the intake as it will reduce the amount of oxygen in the combustion chamber (Ie completely the wrong thing to do -Think of fire extinguishers)
The way I have seen it used is to pass CO2 through a metal sphere suspended in the inlet pipe, As the CO2 expands in the sphere it cools down thus reducing intake temps.
My main concern is that it is a huge restriction to the airflow so any gains that you get from the temp dropping will be lost by the restriction the sphere creates.
(This is the kit I have seen:
http://www.demon-tweeks.co.uk/products/ ... =DEI080110)
If the same theory could be worked into a sleeve around the intake pipe (ie nothing in the actual pipe) it could probably be more effective. Could possibly have a greater surface area too which would give the air a better chance to exhange heat.