Eta carbide is much different than other regular secondary carbide. For starters is it much smaller and can be much more plentiful (numerically, not in volume). And it's function is not like most carbide, to enhance abrasion resistance, but rather to pin "the grid". This is why heating it up ruins it. The little carbide is still there, but the matrix around it relaxes so it looses its effect. The beauty of eta is it doesn't propagate cracking like a normal carbide, but it might actually help arrest them.
Contrary to some misconception it is not formed during cryo. Well, some of it might be formed during cryo because as the highly tetragonal pure un-tempered martensite contracts the elongated crystals might actually squeeze and "pop" a carbon atom out (cryogenic tempering) where it might react (even at that low temperature) in a non-metallic bond to a surrounding metal (iron, chrome whatever) and form a nanoscopic cementite or whatever, but the real formation of eta carbide happens in temper. It is the changes to the lattice caused by cryo that enable that (tiny little gaps from minute rearrangement), but it is not as simple as just dunking your knife into LN and TADA! eta. These gaps require movement and movement requires time. A quick dunk into LN runs across these temperatures where thing can and will move too quickly, it takes a little more time and temp control than that. If you're a custom knife maker using LN and you'd like to experiment with eta carbide formation you would experiment with your quench rate going down and back up and the timing and number of your cryo and temper steps. I think eta carbide is a poorly understood subject that may or may not be important to knife makers. I don't know much about it except that one steel does not react the same as another. Since most of us don't have an SEM in our shop (I don't) we're really just throwing darts in the dark. Hence the need to experiment with reproducible testing techniques. At the end of the day it may not matter why your process works, just as long as it does and you can reproduce it. But I suspect that eta carbide might be an important ingredient in the soup.