Actually the AX5 was the earlier ones that blew up easily. The AX15 is similar in look but much stronger. The '92-'99 models are the best and came behind 4.0L 6's. Being in the Cherokee world for the last 5+ years, the AX15 has proven very stout assuming you don't abuse it (i.e power shifting, downshift at high RPM's, etc.). T5's can work well but GM never put one behind a 350 because it wouldn't handle the torque per Tremec specs. Never could figure out why Ford spec'ed their T5's different and would hold up to way more power than any GM T5.
As it is, I am not an abuser of transmissions, so I think with my driving style, this should work well. At this point, only time will tell.
In case you missed the link regarding AX15 info, here it is again,
http://www.novak-adapt.com/knowledge/ax15.htm