I've used Freeze 12 several times in old R12 systems in trucks and agricultural equipment. It cools well, and I've never seen it cause any problems.
And, yes, it's illegal to mix Freeze 12 with R-12... so you will definitely burn in 113H if you dare to mix them. But I've been told that it works fine (can't remember who told me that). Not that I'd ever do anything of the sort, of course.
If you switch to Freeze 12, you're legally required to swap the service fittings over to some specific Freeze-12 fittings (which will not fit your R-12 gauges), and properly label the system. Now... a side-tap for a standard R-12 can will physically fit on a Freeze 12 can, and your standard R12 gauges will work just fine (theoretically, of course). But it's illegal and you'll burn in 113H if you try it.