I'm mixed on the issue. While I certainly agree that the government needs to cut spending, I don't know if this is the way to do it.
I think it is unfortunate that the FIRST thing they decided to do was freeze pay rather than looking at other larger costs. Plus it just convinces more people that federal employees are overpaid. In fact it is just the opposite; compared to the equivalent private sector position, federal employees are paid significantly less.
A much better alternative would have been to just freeze hiring and reduce the overall workforce. Or even make it easier to fire bad workers. The real problem isn't federal pay, but that bad workers can get in and stay in with no incentives to be better at their job--costing the government in lost productivity and requiring a larger workforce.