Alright, I'm testing the new one. I'll come back with my results.
It works perfectly. I'm not even kidding. Although I can feel a slight difference in the speed of the mod and non modded knife, you can attack much faster with the axe.
Edit again: Alright I'm not sure whether this is an error or just me doing something. After I alt tabbed (also after my first game ended) the mod stopped working. I'm not sure if anyone else has noticed that it stopped working after a game but...
Edit Edit Edit: Still get the out of memory error once I spawn in the second game.