Arudius: You are in the WRONG location. That Black Axe with the Ghost has nothing to do with Ivellon, and MUCH to do with Myths and Legends.
Spoiler
The Cloud Tower is high in the Mountains SE of Cheydinhal, roughly around the L in Valus on the World Map.
I had just uploaded 14 screenshots for this ordeal to my ftp server to post here...and you just totally shed light on this for me. I have never had Myths and Legends before now. Hopefully it's understandable how easy it was for me to get a little confused when I found that fort on my way straight north from the ruins.
Thank you so much for clearing this up...It feels good to know that I haven't even started the actual dungeon yet.