That looks ugly and unwieldy!
Basically it looks totally....wrong!
The big question is - why?
The big answer is the same as always John, we want things we can pack into small spaces.
I am not going to slag it off on it's looks.
As for it closing on a backswing I don't think that can happen the handle has two hooks that lock onto the upper part of the haft, the insert to the handle looks like the locking mechanism that will stop that from folding. There is a latch at the back of the head that holds the head in a forward facing posture. So I think it unlikely that it would close on your fingers.
However I am more concerned about the pins upon which the head of the axe are pivoted on. If doing splitting or using a lot of force they will come under a lot of pressure. A misplaced swing would apply a certain amount of leverage to that pin that could possibly weaken it over time.
The only way to find out is try one, but since I wouldn't buy one in the first place there is little chance that I would find out in the long term.
It's a novel idea that has potential even if it looks aren't what we want. In the end Gerber are a Fiskars company, and the gerber camp axe has very good reputation, but having said that it's the same as the Fiskars and the Wilkinson Sword axes since they all are pretty much the same design and they are all Fiskars company.
For peoples information I have a Fiskars axe that I have had for years and it's damned nigh indestructible and Fiskars are a very good company. So if it's been as well thought out as some of their other goods then it may not be anywhere near as bad as people may think.
Admittedly not my cup of tea, but then "all that glitters is not gold"