AlaskaBushBrewer

Recipes 

Will the taste stop improving once i chill my beer or does it keep changing until the bottle is
opened?

Yooper

Recipes 

Aging really slows down in cooler temperatures, so if the beer needs some aging, that's best done at room temperature or at least cellar temperatures.

But cold conditioning also does things like dropping out polyphenols and so "smooths" out the beer a bit as well.

I'd probably keep the beer at cellar temperatures or higher if it had any "green beer" flavors like cut apples (Acetaldehyde) or a beer with lots of roasty or complex flavors until that was gone and then cold condition it a bit if it needed some more smoothing.

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SamBrewer

Recipes 

beer will continue to change even at very low temperature. It depends on what to you mean with Improve.

For example lager procedure is performed at very low temp and it definitely going to change flavor profile; and also with ales I've tasted differences in taste after several month with beer left in the fridge.