Sorry,it is a BAD idea to quench HSS in real cold water. Some don't quench it at all because it may cause small cracks since it is an air cooling steel,meaning it hardens when cooled real slowly. Quenching it in water would best be done at room temperature at best.
Personally,I have not cracked a HSS lathe tool dipping it in water,but I dip quickly,take it out,and dip again. Plus,I don't let the bit get REAL hot to begin with,to avoid cracking in the quench. I'm saying I know how to quench at the grinder,by cooling HSS a little slowly.
Cooling ANY tool steel in ice cold water,even water hardening tool steel,is a bad idea as it causes too much shock,inducing warping and possible cracking. Old blacksmiths would start their cold mornings by heating up a steel bar good and hot and putting it into the quenching tub(slack tub) to take the chill off the water.
.
Hi George... I hear what you're saying about creating stresses and am aware of that. The outside surfaces expand/contract many times faster than the core and this places pressures indeed. But they are just that, pressures... because at these temperature ranges the metal is no where near any boundary from spheroidized structure to austenite structure -not by many hundreds of degrees. At the temperatures we're talking about, in the eyes of metal, that's like the difference between a human walking from a room that's 75 degrees to a room that's 65 degrees. Do you feel it? yes. Does it make a difference? No.
Most tool steels have annealing temps that don't start until 400. -That's why I leave a little water on the bit because it starts to slowly evaporate around 150 degrees and at that temp, there's no harm in dunking in very cold water. Consider that car engines in Minnesota can go from -20 to 350 in a matter of moments... (the stresses of rapidly going from hot->cold or cold->hot are identical). And the reason all but the most critical parts of an engine are kept at/under 350 degrees is because that's approaching the annealing point. As far as cryogenic structure change, the first signs of crystalline reorganization occur at -150 and occurs fully at -320.
Dunking warm HSS in cold water is +/- 200 degrees from any boundary of crystalline change...
One thing for sure, if you warm it up till it's blue (or even dark amber) that's a sign that atmospheric oxygen has started to bind molecularly -and that occurs WELL after the annealing point so, by definition, it has become softer.
Respectfully...
Ray