It amazes me when someone makes improvements to a job as old as splitting wood. Millions (billions?) of people have been doing it for thousands of years, and there's still room for improvement.
I'm guess that it's less useful if you're chopping against the grain or if you want precision.
And that's not a modern invention, it goes back for centuries. I'd guess that even stone age flint tools have been specialized in similar ways.
I think this is it: http://ecx.images-amazon.com/images/I/61AigOH-ptL._SY300_.jp...
"Once in a while he found new axes at the hardware store. They were proclaimed to give greater striking power and strength through added weight and a variety of shenanigans to the sides of the blade."