It isn't cockney rhyming slang and is in use in other places other than London. Rhyming slang would be like saying 'apples and pears' for stairs or 'china' for mate (china plate).
'Cold' when referring to weather or room temperature would be described in Cockney rhyming slang as 'taters' (pronounced 'taiters' or 'tighters'), usually as 'taiters init', meaning 'cold isn't it'. Taters is short for 'taters (ie potatoes) in the mould', which of course rhymes with cold!
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