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My friend did this on a supercharged M5 (think it was the E39 model)...... they did it as a quick "cheap" way of cooling both the fuel and at the intake (??).... the cost is quite low compared to Nitrous but a 10lb bottle of Liquid CO2 will only last around 3 x 1/4 mile drags... whereas a 10 lb bottle of the N2O lasts around 10 pops..
Now CO2 is really cheap to buy but the hassle of taking the bleeding tank out every few runs annoyed them and they took the system off. Overall, I think it is about 1/5th the running cost of N20
Further, the claimed HP gains using the CO2 were so spurious that they considered it a waste... at least with Nitrous if you are popping a 75 shot down the line you are getting a 75 shot plus the synergistic effects of the cooling EXACTLY where you want it..
I will ask for some of their DYNOS from that time