Gentlemen: Here it is, plain and simple:
The more highly alloyed the steel, the more benefit from cryo. THis is because the higher the alloy content, the lower the Mf (Martensite Finish)temp. The colder you go, the more transformation you get. LN2 is capable of producing over 99% transformation in any knife steel that was properly heat treated to begin with. As to cooling rate, the "slow down", soak and "slow-up" cycles are to prevent thermal shock from uneven cooling in thicker parts, like cylinder blocks, etc.
Being thin, knife blades can generally be dunked right in with no ill effects, since they cool rapidly through their thickness.
A snap temper, or a full temper prior to cryo produces smaller grain size and reduces the thermal stress caused by the LN2 treatment.
Double tempering after cryo is the best. A single temper is a necessity.