I played through this today, and on both 2-2 and 5-2 I couldn't scroll the screen far enough to be able to touch the axe. I have no idea why... the only time it actually worked for me was one time on 5-2 Bowser despawned (!!) and I was able to grab the axe then.

Is that just a glitch? Honestly, not sure if I'm playing the new or old version. I think it's the new though.