Interesting. I can't say I'd accept an axe passed to me in such a way, and anyone seen carrying an axe in that manner wouldn't have remembered waht they'd been taught when I was Scouting. Still, that's an American pamphlet I notice.
Axe carried by the head, ideally sheathed, with the sharp end forward, and handle (if long) in front on shoulder. A trip or fall merely buries the blade.
Passthe axe rather like a knife. Held by the head, sharp side up, handle to the recipient. (Knife held by the blade, sharp side up so it can be seen, handle to the recipient. If pulled accidentally, the back of the blade can't cause injury.)