I know I'm a bit late to the party but I registered just so I could reply. It would seem the morphing system literally creates a percentage based chance to morph your weapon based on every action you have ever done. More frequent actions translate to a greater chance of a certain morph appearing. I know this because I got a steel coloured morph "for my cruel chicken kicking" on my sword. I play a good character and I only ever kicked one chicken completely by accident. It must have been slim to none chance of getting the morph but still possible, even having only done the action once.
Considering how much time I have spent thoroughly exploring, amassing gold, gathering all the keys and the gnomes as I go. digging every dig spot, opening every chest, then one chicken kick among a million actions causing a morph is somewhat annoying. Having done all this stuff to create a unique character and then having his sword label me a serial chicken kicker for life, it's too late to restart the game now though. Not after all the stuff I've done to try and keep in the fluid spirit of the game. Incidently my weapons don't look half bad, I have one more melee chest to open and 2 more magic and ranged.
My sword has the arcane gem handle with the flame engraved leaf blade, the whole thing is a steely blue colour. My rifle has the pistol-esque grip with a scope, almost looks like a sniper rifle. My pistol looks similar to the rifle with the silver engraved grip only it has a red tint to it now.
Given my choice of morphs, I'd have loved that angled handle on my sword, the one that compliments the silver ones for the guns. Although I don't mind the steel blue colour of my sword, I'd have liked to receive it for something other than chicken kicking.
EDIT: Sorry for the text wall.