I don't know where the people on this forum get their information on how the grain should be aligned on axe and other tool handles, but none of it seems to agree with what Roy Underhill says about the subject.
Mr. Underhill splits blanks for axe handles from white sapwood out of trees about 8" in diameter which have grown fast so the rings are wide, not dense. He says the rings should run at a right-angle to the width as if the poll of the axe is the bark-side and the bit pointing at the heart of the tree. He says handles from a slow-growing tree with narrow rings and some heartwood will be too brittle for the roughest use and the wood is more likely to check. Also he says that axe handles with the grain aligned poll to bit will be more likely to warp to the side.
It seem like a lot of people on this forum say almost the exact opposite of what Underhill says about Axe handles don't they? This is from his 1983 book The Woodwrights Companion.
If a handle is made from a well-seasoned blank maybe it will not warp to the side if the grain is going front to back, and of course a handle that has sat for over 40 years without warping is not likely to anytime soon. If I was making a new handle from a tree myself I would certainly follow Underhill's advice, he seems to be a smart and educated man and he is a great writer and craftsman.
To me it seems that if handles with the grain going fore and aft are popular, it is just some sort of fashion trend and nothing else.