This GAxe operates exactly like Maneater, in the sense that if you're under 100 TP, or if you're WSing, you get the DMG of the latent, and an additional +5 ACC and +10 ATK. In this sense, Perdu Voulge is the best weapon for Raging Rush spammage in merit parties, regular xp parties, and generally anything that involves TP spam.
Because of this, however, Perdu takes a back seat to Axes that are very TP dependent, like Steel Cyclone and (potentially) King's Justice. For SC and maybe KJ, you'll want to run with a Martial Bhuj for optimal output. If you are firing off SC / KJ at 100% TP (why?) then feel free to use Perdu, but I'll eat alive you if you're using SC in my merit parties.