Just saw this thread.....I must not get in this forum much, eh?
I haven't had the thumper under the ice but I have had in the water right up next to ice shelfs and done very well with it. Most recently, I was fishing water just over the 40 degree mark using the thumper on light heads verically along wood and it did an outstanding job on very large crappies.
When I am on the ice I do not pay any attention to fish on the bottom. They are neutral and negative fish at best and usually are smaller. I don't find much thrill in coaxing a five inch crappie off the bottom. However, those fish that is see making the random, in and out of the cone angle, appearences get fed larger, full sized crappie plastics on conventional heads this great success. We didn't have such great ice here last year and where I generally launch my mid-water-column ice fishing assault on crappies wasn't a safe venture. If things pan out this year I'll be giving the thumper a good trial, but from what cold open water has shown I can see them doing well.