I wouldn't say the axe is fake 100%. It does indeed seem fake, but if you look at other confirmed BC loot, it's not that absurd (level 70 epic 2-handers having 550+ max damage). I'm 50/50. I won't believe either way until there's proof. 
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"A Darwinian attacks his theory, seeking to find flaws. An ID believer defends his theory, seeking to conceal flaws." -Roger Ebert
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