I'm a materials engineer and, in my present capacity as a metallurgist for an aluminum extrusion company, I've investigated cryogenic treatment of tooling and dies at length. It's benefits are a given here. However, I've also investigated its merits in audio. All of what's been said already is correct: in metals it eliminates microvoids and (in my opinion, it being difficult to analyze) eliminates dislocations from the crystalline structure. The microvoid elimination I suspect is very beneficial in and around grain boundaries which, by nature, are simply empy space in the metal.
HOWEVER, with respect to to tubes, I STRONGLY urge caution here over concerns of tube life. You can cryo just about any material safely with the right equipment and procedures, i.e., the guys doing it are worth their salt. It's glue bonds that aren't a good thing to cryogenically treat. Ask a few cryo outfits and they'll tell you that doing speaker drivers, for example, aren't a good idea because of the glue bonds between cone and surround, etc.
Correct me if I'm wrong but the glass around the tube plate structure is glue bonded to the base. Once that bond is compromised, you lose vacuum and tube life goes out the door. Caveat emptor (and I use tube gear and personally wouldn't try it on tubes unless their cheapo new production ones -- no way would I risk any NOS ones).