Well, that is quite a wrong info from your fellow brewer. You store the hops just perfectly at that very cold temperature. Big hop merchants, at least here in europe store the hops at -22 Fahrenheit to garanty you the highest quality possible.
Oil and hop acid oxidation are triggered by the partial pressure of oxygen present, temperature and light. If one of these parameters goes up, then the storability goes down. So store it away from oxygen, dark and freezen cold :-)