Speak to Klodsag at ( -62, -16, -16 ) /waypoint -62, -16, -16. Note: If you forget to talk to him, the quest doesn't break. If you ran all the way around and didn't find a chest, you probably forgot to talk to him first. Talk to him and then go back for the chest. It looks and behaves like "void shard' chests, with an onscreen message.
"I am not locked in here with you, you are locked in here with ME!" - stay inside the swirling snow wall or die (Line taken from Rorschach of Watchmen). Note that the wall is always inside the room, not necessarily near the named.
"Back off! Let's see how well you scramble!" - off the red circle before it disappears or die
The key is to slow burn, about 10-15%, otherwise there can be both white/red joust rings.
Take the small key from his hand to the chest at the bottom of the tower to get frostbite crystal.
There is a portal that takes you to the "Icy Hall", a balcony you can jump from to get to the base of the tower.
The chest spawns at a random location at the bottom of the tower.
Dismounting and using a floaty cloak (or racial float) can be faster than running all the way back down the tower.
Head toward the right/east toward the Tower of Stone
Return to the path going west and kill Laef Windfall near ( 554, -16, 633 ) /waypoint 554, -16, 633.
He casts a frontal stun after the message "Laef Windfall prepares to unleash a barrage of powerful wind in front of him! You might want to try to avoid this!". He is immune to damage during his frontal.
The stun is not curable (there is no detriment) and will persist for a while even after he dies.Consider rooting him and keeping away.
Go up the ramp to the top of the tower, killing trash on platforms to the teleport at ( 720, 198, 718 ) /waypoint 720, 198, 718. NOTE: The only really dangerous spot as you go up is the area with the moving lightning storms (after using the teleporter). If one hits you, it does 23-30 million damage, likely killing damage. Avoid them, there's only one platform with killer lightning bolts.
One or the other periodically gets more damage reduction then the other. If you notice one taking less damage, you can swap, or you can just burn one and then swap to the other. Both have to be at 1% before either will die.
Loot the key off their corpse.
Take the portal that just spawned to Thunder Coliseum