How Does Ogris Damage Work?

[SpiderWaifu]

I've recently crafted this weapon, and I'm really confused as to how the damage works.

 

I know the damage is split between the rocket impact (how is that dmg calculated?) and the AoE blast. Is the only way to increase the base damage, through serration mod? Or does putting an Ice + Fire mod to make Blast increase it's 'base' damage? Or does it make another Blast effect, that only shows up if an elemental effect procs?

This weapon confuses me. But I see big numbers so I like it.

[Jamescell]

Ogris damage = 1000000 times the health of whatever enemy it hits

[rapt0rman]

Fire+ice just adds on to your base blast damage (which is still modified by serration).

[smithf]

I would think go serration.

Then add more elementals (doesn't matter which. Choose the damage type that you want), since impact/slash/puncture have no effects.

Oh.. add Firestorm as well.