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.
