Currently, you can rename the axes in the Initiative Matrix once, and after that your 2 values per axis are intended to be aligned. So Effort & whatever you rename Effort will always have the same value. It would be nice if you could instead create a variety of matrices, and have the axis values be independent of each other. While I could conceivably create custom fields and use a custom bubble chart to recreate the views I want, my team prefers the drag-and-drop interface to update the values - much more interactive than a static bubble chart that requires manual value updates behind the scenes.
Thank you for the idea. Given the low volume of support for this idea, we do not have plans to make updates in this area at this time.