I think serrations are horrible for chopping.
1) The serrations might bite deeper, but that doesn't mean it'll chop better. When you chop, it's generally a 2 step chop, one chop on the left and one chop on the right, and the piece in the middle should be flying off. The flat blade makes a clean cut, whereas the serrations would keep the wood intact between the gaps of the serrations.
2) I can see the serrations breaking, chipping, rolling, and denting real fast under heavy chopping.
3) Makes the blade lighter up front.
There's probably a lot more reason why serrations isn't ideal for chopping, which is why you never see serrated hatches or in many choppers.