This Blender video demonstrates how to make Ice text using the cycles render engine. Blender’s fluid simulator is used during this video. Blender version 2.64 was used for this tutorial. This is a good tutorial for beginners.
If you are using a long string of characters and your text looks like a blob, then the following instructions may help.
1) When you add the bevel to the text, use a value of 0.02 instead of 0.05. (video location 2:40).
2) After adding the bevel to the text, use a Resolution value of 0 instead of 7. (video location 3:07).
3) When you set the fluid resolution use a value 200 instead of 100. A value of 150 will work also but 200 should work better. (video location 8:50). Remember, however, that the larger this number is the larger the required memory is.