I say I see Ed is terribly cold (4)
I believe the answer is:
iced
'cold' is the definition.
(similar in meaning)
'i say i see ed is terribly' is the wordplay.
I cannot really understand how this works, but
'i' is found in the answer.
'see' could be 'c' (the word for the letter, according to Chambers) and 'c' is found in the answer.
'ed' is present in the answer.
This accounts for all the letters.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for iced that I've seen before include "Dressed in a sweet coat" , "Frozen - with a sugary topping" , "not at all hot" , "hidden under white crystals?" , "What cake might be" .)