The changelog on the item shows that it's probably fine. The spell is probably fine as well. It's possible that some mod introduces a spwi430.spl before SR, and has scripts that try to cast it (or an effect on an item or other spell does the same), but SR's spell gets cast instead.
To verify whether this is the case (and stop it from doing so if it is), I recommend grabbing Near Infinity and opening spell.ids in your game. Click "Find... -> in this file" and search for 2430. If you get a result, that means some mod has associated spwi430.spl with a scripting identifier (probably something like WIZARD_SPELL_NAME). From the menu bar, you can then do "Search -> Text Search -> BCS" and search for whatever the identifier was. The results will contain all scripts that cast this spell. I'd recommend making a backup of any you find and then simply deleting all the lines in the files that try to cast the spell, then compiling the files.
If you didn't find an identifier for 2430, then instead navigate to dvenaxe.itm and on the Edit tab, click "Find... -> references to this file". (This process could take a while.) Aside from stuff in your save game, your only result should be spwi430.spl. Repeat the process on spwi430.spl. (This time, the search should be quicker.) This one should actually return 0 results, because the spell should be called from a .2da. If you get different results for either of these searches, let us know.
First search showed BPMage to BPMulti (I guess from BPSeries mod) as well as DD1700WI and DDCYRIC2 , BPSeries having something like this -
IF HotKey(B) THEN RESPONSE #100 ApplySpell(Myself,COM_DAERRAGHS_AURA_OF_CLEANSING) Continue() END
dvenaxe.itm indeed gave spwi430.spl, which in turn gave this -
@Miloch - I do not think I have Desecration of Souls (or/and Dark Ritual)...
EDIT: I just assigned all my party members various BPSeries scripts and pressed 'B' - the axes appeared in the inventory!
Edited by AuspiciousAugur, 05 January 2010 - 10:18 PM.