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If you do get it cold then let it warm up again slowly, inside its case.
The worst thing you can do is open up a freezing cold computer in a warm (and humid) environment - that's when the condensation will happen, and that's when problems may occur.
If you must store in cold, just wrap your bag in a warm blanket and you should be fine.
If your laptop has frozen, don't take it directly into some place warm. I've seen the screens shatter from thermal shock. *grin*
We have had people leave laptops outside at subzero temps. Even if thawed nicely, it usually results in some dead pixels. Conversely, I left a cellphone outside for an entire winter and when it thawed out the next spring, it worked great when recharged...
Sooo... your milage may vary, I guess. :)