What would be a better English word for ἀναξίως ?
is the negative of axiOs, which is an adverb derived from anaxios.
Strong says "ἀνάξιος, -ον (α privative and ἄξιος) [from Sophocles down], unworthy (τινός): unfit for a thing,
1 Corinthians 6:2."
axiOs is an adjective from axios, of which Strongs says in it's primary sense means -
"ἄξιος, -α, -ον, (from ἄγω, ἄξω; therefore properly, drawing down the scale; hence)
a. weighing, having weight; with a genitive having the weight of (weighing as much as) another thing, of like value, worth as much: βοὸς ἄξιος, Homer, Iliad 23, 885; with the genitive of price [Winer's Grammar, 206 (194)], as ἄξ. δέκα μνῶν, common in Attic writings; πᾶν τίμιον οὐκ ἄξιον αὐτῆς (σοφίας) ἐστι,
Proverbs 3:15;
Proverbs 8:11; οὐκ ἔστι σταθμὸς πᾶς ἄξιος ψυχῆς, Sir. 26:15; οὐκ ἄξια πρὸς τ. δόξαν are of no weight in comparison with the glory, i. e. are not to be put on an equality with the glory,
Romans 8:18; cf. Fritzsche at the passage and Winers Grammar, 405 (378); [Buttmann, 340 (292)]."
It occurs twice in the LXX - Proverbs
3:15;
8:11, again with the sense of valuing appropriately or fairly.
So, I think you linking it to weighing with false weights is reasonable. The communion is an affirmation of Christ's full and unreserved forgiveness applied to all those in Christ, so to forgive myself based on my reliance on Christ's work, while withholding it from another who is also relying on Christ's work, would be to apply a different weight or standard to the other person than I do to myself. Most often axios is translated with the sense of deserving something like wages for one's labour, or worship for being God.
According to Jesus, the unforgiving servant was unworthy or undeserving of the forgiveness he had been granted by the master, and it was rescinded, and he was condemned.