the time freeze glitch is available on the xbox version,not sure about the pc.
to do it you need a bow(any kind,including crossbow)
1)go to a gate that lets you move to a new area(not a cullis gate)(find a gate that if you go through it and apear on the other side,you can go back with a single roll)
2)stand as close as you can to the gate in its direction(without going through it)
3)unsheave your bow/crossbow.
4)hold L.
5)press X to charge your bow so that your controller vibrates hard(hold it for about 15 seconds)
6)while holding L and X,roll into the gate(joystick up and Y)
7)keep holding L,X and Y while the screen is loading and pull the joystick down(the controller might still be vibrating during the loading screen,this is normal,dont panic
)
8)after the screen has finished loading,the hero will instantly roll back into the gate(keep holding the buttons)
9)when it starts loading(when you see the guild seal spinning)you can let go of the buttons.
10)after it has finished loading the world should be frozen.
notes:arrows will freeze in the air and some spells will not function properly,the guild seal will not flash when you charge it and a few other side efects will ucur.
best part:all building(that can be bought) are up for sale including all the bowerstone south children homes
(also if your a good guy and dont want to kill anyone to own a town this is your chance
)
to unfreeze the world:dig,fish or save and reload.
have fun