Coil whine does happen fairly regularly, and in electronic devices more expensive than an AX1200 as well. If it's happening unusually often, I would surmise that some coil or another isn't getting enough cement on the windings at the factory. It's not usually dangerous to the PSU... just to the owner's sanity if it's loud enough.
I do understand about the whole coil whine thing,
I'm still happy with my AX 1200. Thing doesnt make a peep (with the fan that is) even at full load with my OC'ed 480's, OC'ed cpu, pump and lights going, along with 5 hard drives. It performs wonderfully...so to have this coil whine issue on a quality flagship product from a quality company, magnifies the issue in question, especially since its high end performance includes having very little noise. Even redbeard himself said that its unacceptable to have that kind of noise.
Edit: also, my AX1200 like the OP lacks the sticker badging warning to use AX cables only.
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