I have started trying my hand at freezing pollen and using later for pollinating daylilys. My question is does freezing pollen and using it later drastically reduce the effectiveness of the pollen?

If handled correctly, it seems to be as fertile a year later as the day it was harvested. If you search the forums and articles for pollen storage you should find several methods. Otherwise, you're likely to receive lots of info right here.

The first thing to keep in mind is that frost-free freezers aren't your friend, and measures need to be taken to prevent temperature fluctuations.