It appears that Mehrunes Dagon likes to play with dice, and as any gambling daedra lord would, he can get a bit excitable. Vocal Mehrunes Razor (VMR) allows Dagon to share this excitement with his champion by commenting on the kills you perform with his Razor.
VMR allows for the player to know when a kill was made due to to the Razor's enchantment without being as immersion breaking as a message at the top of the screen. It also brings some life into the weapon itself.
The appearance and functionality of Mehrunes' Razor is exactly the same as it was in the vanilla version. This means that the 1.98% chance of killing a target has not changed. This mod only adds the sounds that will occur when a target is killed by Mehrunes' Razor's enchantment.
There are 9 possible lines for Dagon to say and their probability of being said are
80% for the laugh 2.5% each for the other 8 (total 20%)
This should make Dagon's remarks seem less repetitive and intrusive.