9/10 I like the stockings! ;-) And I think I *feel* the joke though I am not quite sure I really get it...
9/10 The phrase "having an ax(e) to grind" basically means either to have an grievance/dispute with someone, or to use someone for your own personal gain. It's explained more fully here: http://www.phrases.org.uk/meanings/174000.html Hence, the pin-up girl with the axe and the whetstone.