The television commercials have been pretty good; albeit, they seem to be a little random and scattered as far the content and themes. To me, each one seems to be a different campaign, but that might be what they are going for.
Besides the commercials, they have been launching some great online content. One of the first new campaigns I saw was for their new line of hair products:
Have 100 girls judge your hair!
This is one of the first sites I came across. It shows guys who have uploaded their photos to have their hairstyle judges by a group of 100 women, complete with some entertaining commentary from the female Ryan Seacrest of AXE. You can also upload a picture of yourself, and have the 100 girls judge your hairstyle. Whatever they decide, they give you recommendations on what type of AXE hair product to get in order to change or keep your hair the way it is.
My Hair Judgement
http://www.axehaircrisisrelief.org/100girls/?p=M7/1X/OW/56157

(Yea, that's right 90% girl-approved hair. What were the other 10 girls' problems? Geez!)
Just recently, I came across this little jewel they launched:
http://www.thefixers.com/
It's a talk show format that shows different social situations guys can get themselves into, and how not to do them again or to get out of them. I have seen the entire site yet, but that one episode I did watch, Shock, was pretty funny.
From the Shock episode: "These are like hairy golfballs" HAHAHA!
I have a feeling the male hygiene category will soon be completely saturated with different brands, just as the energy drink genre is now. Actually, I am surprised it hasn't already. However, fortunately for AXE, I think they've branded themselves as lead in the category, just as Red Bull has with energy drinks.