Zelda 64: Damage Charts

Information

Arrows 6, 7, and 8 are not simply repeats of the fire arrow. The fire arrow animation may act as a place holder, but these arrows have their own damage mappings within the enemy damage charts.
Also the 3 additional arrows don't use magic when used.

Damage chart example

Like Like (C)
00 F2 F1 F2 10 F2 F2 10 F1 F2 F4 24 34 BF D4 CF 
EF 24 33 4A 00 00 F1 F4 F2 F2 F8 F4 EA 00 00 00 

00 00 Deku Nuts
01 F2 Deku Sticks
02 F1 Slingshot
03 F2 Explosions
04 10 Boomerang
05 F2 Arrow
06 F2 Hammer normal swing
07 10 Hookshot
08 F1 Kokiri Sword Attack
09 F2 Kokiri Spin/Jump Attack * Master Sword Swing
0A F4 Biggoron's Sword Standard Attack
0B 24 Fire Arrows
0C 34 Ice Arrows
0D BF Light Arrows
0E D4 <--- "Wind" Arrows
0F CF <--- "Spirit" Arrows 
10 EF <--- "Shadow" Arrows
11 24 Fire Magic
12 33 Ice Magic (Confirmed)
13 4A Light Magic (Confirmed)
14 00 ?
15 00 ?
16 F1 Kokiri Sword Blue Spin Attack
17 F4 Giant's Knife Blue Spin Attack
18 F2 Master Sword Blue Spin Attack
19 F2 Broken Giant's Knife Jump Attack
1A F8 Giant's Knife Jump Attack/Fully Charged Spin
1B F4 Master Sword Jump Attack/Fully Charged Spin
1C EA ?
1D 00 ?
1E 00 Hammer Jump Attack
1F 00 ? 

Item drops

Like Likes only give the large purple rupee when defeated with light arrows. So? Well, all 3 beta arrows give unique items when used to defeat the like like.

Light Arrow : Huge Purple Rupee
"Wind" Arrow : Magic Jar
"Spirit" Arrow : Arrow
"Shadow" Arrow : Fairy

Loading the arrows in-game

The arrows can be loaded by modifying function 80834380 in ovl_player_actor, or by execute breakpointing 80032458 in RAM and changing the variable before the ActorSpawn function is called.

Credits

jsa - Testing the arrows and their effects in-game, most of the text here
DeathBasket - Providing jsa with a way to load the beta arrows