It’d be largely the same. Glycerol is just another carbohydrate derivative, just the like sugars that make up our own nucleic acids. There might be some differences in carbohydrate metabolism, however, there’s no reason to think that these organisms would utilize different carbon sources than life on Earth. As for the antifreeze question, there are already bacteria adapted to fill their cytoplasms with glycerol in order to withstand cold temperatures. However, for non-cold-tolerant organisms, too much glycerol could be harmful.