Artistically, it look really good, however, technically you have a problem if you consider that light is comming from above. On the axe, it seems to me that you inversed the light source on the cutting part. I hope Arkaal won\'t mind me using one of his minis as an example, but considering he\'s one of the NMM masters here, I thought it could help you :
http://www.coolminiornot.com/90525
If you look at the cutting part on his axe (upper left blade), the light spot is higher on the blade and more radiant.
These articles should help out too :
http://www.coolminiornot.com/article/aid/300
http://www.coolminiornot.com/article/aid/54