I think cycle frequency won't change all that much, what would change is the ratio of on
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ff time.
For a freezer doing freezing, it will work longer to push it down 2-3°C (at -18°C) when it kicks in. Due to the high differential between internal and ambient temp, it'll be a short[er] amount of time before the compressor comes on again.
For a freezer doing fermenting work, it will work a short amount of time to push it down when it kicks in. Due to the minimal differential between internal and ambient temp, it will be a long[er] amount of time before the compressor comes on again.
The main factor that will determine your cycle time is hysterisis. If you set it at 0.3°C, it'll come on more frequently than if set at 1°C.
Either way, fridges and freezers aren't designed for fermentation. Due to the higher temps required over refridgeration/freezing, the net result will probably be something that cycles as often as a fridge but runs for less time because it's keeping things warmer than it's designed to.
Net effect: I haven't heard of too many (read: any) homebrewers burning out fridges. My preference is a freezer because they go harder when they're on and have better insulation.
Plus, look at Camo's stainless.
Look at it.