You are a brave man. Showing belay handicraft usually result in a few 'helpful' critiques from the UKC knowledge bank. I'm still trying to figure out what's going on....

The red tape is the Abolokov, the sling, which also goes through the rope but is intentionally not taught, is the backup to an ice-screw. My axe is probably not doing anything.

That should be - the sling is not taut!