Actually the no retaliation trait gained by the Axe of Ice only works on lvl 1-3 dwarven units, and they are only 2 of them - diggers and dwarves. So it's really not that great, although I must admit that Diggers (the basic lvl 2 dwarven unit) can come in the thousands, pretty much like the fairies, but have much better attack, defense and damage, and they also get a +10% Physical resistance thanks to that axe. Besides, it's stats are great:
Axe of Ice, Class 3
+ 7 Defense
Dwarves lvl 1-3 attack without retaliation
+10% physical resistance (absolute) to all dwarven units
Here's the stats of the Axe of Lightning:
The Axe of Lightning Lvl 3
+5 Attack
+10% Critical strike chance
+20% damage to the Lightning Spell
(I'll have to check, but I think it also affects the archmagi's base attack, as it is Lightning-based)
They are all great - but in the end, it depends on your playing style which one are you going to get and use, so do not be hasty in making that decision.
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