Not that I'm any sort of expert, but I think it would make an ok supplemental tool to an overall kit at best. If all you had was the Norse Hawk, or just the head, that would be better than nothing, of course.
What's nice about the CS hawks is that the head is easily removed for use int he hand. The Norse Hawk design probably makes for one of the better 'in-hand' users, almost Ulu-like. With a little edge work, the Norse could certainly become a more versitile tool, but as soon as you start chopping a lot with it, that reworked edge would probably disappear.
So, my two cents, yea sure, it icould certainly be usable as a survival tool. But I think there are better choppers out there, and if given a choice, I would prefer to have more than one tool with me in a given situation. On our last camping trip, I used a Marble's Pocket Axe and a Sawvior saw to manage and split 2 nights of harvested deadfall. The Pocket Axe is small, but with encouragement of a baton it works nicely.
Final thought: In a controlled situation (camping, around the yard, etc.), see what you can do with the Norse Hawk. Think outside the box as far as it's usage. Maybe you can mod it into something similar to that handheld axe-thingie that Ron Hood was selling a few years ago. I can't recall what it was called, but it was a cool tool.