Angular alignment: the relationship between 2 lines, planes,
etc. that create an angle between them (as in the angle formed in
the letter A). The correct angulation dictates if they are in
alignment or not (e.g. if you want a wide A, with an angle of 60
degrees but you print a narrow A of 30 degrees you would say it's
not aligned).
Axial: there are 2 types - rotational and lateral. Rotational -
e.g. - wheels of a car must be parallel. If they slant towards each
other (facing either up or down) they are in rotational
misalignment. Lateral - e.g. taking the same wheels, if front
wheels are wider apart than normal, they are in lateral axial
misalignment.
Hope this helps.