As cool as a theory may sound on paper, now that there is an ice dragon on Game of Thrones, the situation has gotten a lot more serious. After the White Walkers killed Viserion, he was resurrected by the Night King and turned into what fans can only assume is the legendary ice dragon — or at least the HBO series' version of that.
Viserion is not made of ice now, but he's at least the dragon version of a wight. The blue eyes indicate that much. This rebirth was a dramatic coda to a dramatic death scene. Viserion came crashing to the ground after the Night King shot him with a spear of ice. That wasn't enough to turn him, however. His scaly corpse dramatically slid into the icy water, foreshadowing his immediate future a bit.
This is quite a lucky day for the Night King, if you think about it. Do you think he ever imagined that a dragon would come knocking on his door? Once the battle was over, the Night King's wight minions dragged him out, and with one touch from the fearless leader, Viserion was awake again. This is the same procedure that Jon Snow witnessed the Night King perform on Crastor's sacrificed newborn sons.
Game of Thrones fans will have to wait until the season to finale to see just what the ice dragon can do. Will Viserion still breath fire, or ice? Is he going to be some kind of evil Elsa? That's pretty scary to think about. It seems very likely that the Night King will at least try to ride Viserion the Ice Dragon, which is a horrifying prospect. The Wall was the one thing keeping the army of the dead from Westeros, and now it's barely an obstacle at all.