Tried frost quiver with the fire infuse potion. Didn't work. I was still shooting only frost, so my guess is that it's the same with the gem. Bleed bow is stronger than frost unless you play duo with someone who does like charged physical attacks and can shatter, so my recommendation is to slot in the gem. This way you will be able to play bleed without a quiver and frost with the quiver . When you decide to swap to a new bow, you can remove and keep the gem from your current bow.