This image is sample file Helens (ContourMap).voxb with a vertical exaggeration of 5. (Found here: C:\Program Files\Golden Software\Voxler 4\Samples)
If you would like to use axes and still use the effect of the Vertical Exaggeration, you will need to use a Transform module. The Transform module performs the scaling on the data instead of stretching the entire scene in the Z direction. The same project is shown below but is scaled using the Transform module instead of the Vertical exaggeration control; notice the difference in the way the Z axis is displayed.
Same file as above, this time with a Transform module where the Z Scale has been set to 5 (click the Transform module in the Network Manager, then in the Property Manager, click the Transform tab. Type 5 in the Z field).
More information about using the Transform module can be found in Voxler's help.
Updated March 13, 2018