I use a 20# Lee Magnum Melter and I find that I must turn down the temperature when used in winter. I think it has something to do with its temperature sensor thinking the lead is cooler than it really is due to the ambient freezing air cooling down the external shell of the pot where the sensor is. I put the temp at "3" when it's really cold like -10, and during summer it can be as high as "6" setting.
I've cast during light flurries before, and the snowflakes just burned off when they hit the surface of the lead no problem. Your molds will cool more quickly if you're alternating between two, so you'll have to factor that into your pacing.
Avoid the temptation to do it inside an enclosed space without adequate ventilation just because it's cold. Just dress for the weather.
Edit: Oh yeah, I almost forgot. BEWARE of adding new ingots into your pot that you've stored at the same freezing temperatures. They might have frost on them. Don't ask me how I know this.