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The casting time factor only matters for single target spells like Frostbolt, Fireball, Arcane Missles, etc. Blizzard is a channeled spell, so it takes no damage bonus from a casting time penalty. However, like the last poster said, all AoE spells get a 1/3 damage penalty simply for being AoE.
As far as I know, Blizzard is the only spell that doesn't crit. The reason being, think of how powerful it would be if it could. You can already hit a million mobs with it; it's also the best kiting AoE spell in the game by far. Somehow being chilled, possibly even frozen, and crit on in a group just doesn't seem fair... :lol:
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