I'm comparing this against the Mitre Tactic which is a similarly priced training ball which I also own. They are both actually quite different beasts, and I'll explain why.
The Malmo flies further and is easier to kick than the Tactic. The tactic is heavier and harder to kick.
The Malmo has a smoother, quite hard surface, made of a PVC type material, whereas the Tactic is made of a dense vulcanised rubber. The difference this makes is that on harder surfaces, the Malmo rolls smoother and doesn't rub when rebounding so it's trajectory can be more straight.
Both are hard wearing balls. Having tested and played with both these balls on concrete and against walls repeatedly (the most abrasive condition/surface) The Tactic is more durable as it appears almost indestructible. The Malmo is quite hard wearing, although if used against an abrasive surfaces/walls wears down quicker than the Tactic as the surface of the PVC is marginally more easily split/scratched than the Tactic, although it can still take a fair bit of punishment, and it'll certainly last much longer than any cheap brand ball, and technically The Malmo is not an all surface ball whereas the Tactic is.
I've never used it or left it in cold weather, and given the surface is already hard I wouldn't recommend it as it could potentially turn into a rock...