My friend had one or something very similar with the same BOLO shape.
We were at his house and making a hot dog roasting fire in his backyard.
He had some pine logs about 3-4" in diameter, and under a foot or so in length.  This is what I observed.
He set a log on a flat rock and swung down hard. The forward cant of the blade threw him, and ended up sticking blade in log and whacking forefingers of his chopping hand.
We laughed, he regrouped and the second cut was better, but still didn't split log. He ended up doing what us Hatchet/Small axe guy's do, hold the log steady with hatchet, and take another small log and pound back of axe, splitting log. Doing it THIS way, the hatchet was the clear winner ;D
He then decided it would work better on smaller logs to split for kindling.
He faired a little better this time. He tried balancing the little log on end and taking a chop, but most of the time he either didn't split it all the way, or he hit so hard the blade dug into the ground, which you don't want. Ended up holding log with blade on top, and tapping on ground until blade "bit", then hammered down until wood split. Again I didn't see the how "it" was a big improvement? Lighter maybe a little, but I still think a small axe/saw combo is hard to beat, especially when its wet and rainy and you need to get some dry "heartwood" for a good fire.
Beaver-wood is fine, but as some recent trip reports noted, when you've had a lot of rain, you need a "better" fuel source for a good hot fire.
 I'm sure for clearing brush/trail, it would be a good choice, I didn't see the "advantage" over a hand axe and small saw.
 Still, I'd get it if the price was right and do you own test and see what you think? I just think that swinging hard at a log that's close to ground and missing or hitting too hard is a good way to dull a blade fast, or hurt yourself if not careful.
 I think that the head heavy shape cuts thru brush/vines at an angle with a downward slice, not sure if that's the optimum stroke for "splitting" a small log :-/