Oh well. I was hoping to use peoples' opinion on the relative values between physical, strength, warfare, x-handed, and the low percentage affects. I really don't understand those interactions.
It all depends on your build. If you have the Torturer talent, the bleeding is nice. However, Lohar's Ax could give you the extra warfare you need to used use higher end warfare skills or you might be starting to get into the two-handed crit build area, which would make the extra two-handed stat handy. This is why there is no correct answer unless you give the character build and goals for the character. In general, the weapon with higher base damage will likely do more damage. However, specifics of build could change that. The Lady Vengeance should have some target dummies on board. Hit them a 20-30 times with each ax and see which has the higher average damage.
I was wondering why those things (target dummies) were around and interactable. I settled on Lohar's at the time but it soon became obsolete. I don't remember where Beast was at the time exactly but the formula I used was: primary = strength, vitality; secondary = none; tertiary = intelligence, memory where for every four additions to primary, one tertiary is added. He likely had warfare and two-handed = 5 at the time (a guess). Tis a good game that makes decisions on armor and weapons subjective so "best" really can't be determined easily.