1H Axe correction: proc is Unknown at this time, the blog only has 4 question marks.
2H Sword correction: proc is: [Enemy Takes 1000 damage per second, DEF/MDEF - 15%, Adds 300 fire damage to target's attacks. Duration: 5] (Basically, they take damage, they get -def, but their attacks also get stronger).
2H Axe correction: proc does not reduce mdef.
Shield 2 correction: No Malice increase, Instead CRIT/MCRIT Received: -10%.