Here's what I observed when I measured the effect that the elite fire axe proc has. The axe's proc creates a transparent orange ball around the player that lasts about 5 seconds. While it was on, I noticed the following changes in my avatar stats:
+30 Armor
+15 Damage
+11 DPS
So my armor went up by 30 points compared to what I had when the effect was not on. Also, the minimum and maximum values for my damage was 15 points higher for the duration. This translated into 11 points on my DPS as well.
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