Arcane has decent burst but, in my opinion, you can put out a shit ton more with frost. Arcane is more RNG with random missile barrage procs.
I like to run frost in all brackets, even though I don't do much 2s, i run hunter druid mage, lol, and play as frost. Frost gives you timed burst thats harder than Arcane, also gives you a lot of control when it comes to CCing or pealing since you can use a macro to keybind your WE's freeze and use it to nova melee off your healer, or you can deep freeze a healer if poly is on DR, and CS is on CD.
Arcane vs Frost. Was wondering what Venruki likes to play better and what his partners like better. I play RMP usually, if that helps decide. Rogue switches between ShS and Mutilate.
overall I would have to say that frost/mutilate is a little more well rounded, if played really well arcane/dance also has to the potential to do well against certain setups. personally I prefer the play style of arcane, but frost is just overall superior against a lot of setups.