This axe is a drop by Kor'gall when Rexxar kills him in the second scenario of the orc campaign in Warcraft III: The Frozen Throne.--Frasse
A legendary orc axe used by a legendary orc hero in a legendary orc war to destroy a legendary orc clan.... and it is a blue, lvl 56 weapon... SERIOUS WHAT THE HECK RIGHT THERE! Baldr