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Blue ice material - Frostburn page 80 - Stacking

So Frostburn list Blue Ice as an Exotic material. It weighs half as much as iron and can be forged, shaped and utilized as if it were iron. ( Very useful to keep your beer cold!)

When forged into a slashing weapon it has a +1 enhancement bonus on damage.


Questions:

If I were to crate a masterwork blue ice long sword, would it be the same as +1 blue ice long sword? (Minus it being magical) +1 to attack and +1 to damage?

Does this enhancement stack if the weapon were to be magical, say a +2 blue ice long sword. Giving a +2 to attack and +3 to damage?

(Please add reference, preferably rulebooks)