A joint collaboration between Mercy and Xanamiar.
Oh! So all the blue stuff is the light-energy?
If I'm correct, it's not pure energy but a Cortosis blade surrounded by light energy.
I figure it's a piece of metal surrounded by a Cortosis weave, which channels the energy from the lightsaber hilt, powering the axe. At least that's the way I figure a light axe would work.
Edit: Oh, and my martial arts friend said that it would work best as a 2 handed axe, due to the rigid back handle. However, if the back handle were to be removed, and the axe was smaller, it could be used as a one handed weapon, and you could dual wield it.
And thanks again Mercy for the AWESOME coloring and photoshopping job you did on it :)