The IMU is the inertia measurement unit. It's basically what tells the craft if it's level, how it's tilted, and also measures G forces to measure movements of the craft. I'm not sure why, but there is a warm up process for this unit to work correctly. The IMU must warm up to the point that the last calibration was done at before you can fly. What most pilots do to minimize this warm up time is to fool the IMU during calibration and cool down the craft before starting a calibration. The CPU records that temperature during the calibration. Then, when you start the craft to fly, during the warm up period the IMU only has to warm up to the point that is was initially calibrated at, adequate to fly. That's the only reason to do a "cold IMU calibration", it shortens warm up time when you fly.