If you look at blizzard discs from a physics standpoint, lets say you can impart x newtons of force on a disc. If you take a disc with ~10% less mass, by exerting the same amount if force you will get ~10% more acceleration on the disc which translates into a higher release velocity and increased distance. There are others factors that will come into play when throwing blizzards as opposed to regular weight discs, though. Due to the smaller mass, they will be harmed more by OAT and wind factors than a regular disc. If you're not careful with blizzard, it may hurt your form and overall game. So try not to focus on bombing them and throw nice and smooth and you should see an increase in distance.
When I have seen people try to crush blizzards is when I have witnessed some of the most pathetic throws with them.
Will it slow down faster?