Damn, that's gotta hurt. Nice blood effect!
I would add little bit more details, unless your goal is that he's a generic space marine? Can't tell from which chapter he is, or rank or value?
The axe is normal axe or power axe? Maybe its just my eyes but the axe and terrain are similar color, so the blade of an axe doesn't stand out as much :(
Painting metal areas can help, joints and such
But I'm guessing the model isn't done yet, belt isn't painted (or its supposed to be black?)
Nice eye glow effect tho! And battle damage is neat too.