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Yes the razor standard applies to every attack possible in the unit including magic weapons, impact hits, shooting etc.
If you really want to maximise get a warboss and armor of gork in this unit and you will have d6 str 6 impact hits that are armor piercing. Plus 4 ws 6 str 7 attacks with spear.
Personally I like the idea of getting a flaming banner on this unit with the warboss and get a nice supporting flank charge. The impact hits will come first before anything meaning any attacks after will already count as flaming if you have a supporting unit in combat that lacks flaming.
While statistically the razor banner may work better and if I were playing warriors I would consider it. The flaming banner is way cheaper and helps deal with those pesky units that depend on regen which we struggle with more. I also tend to build list that are good against all comers not just one type of opponent. Furthermore if you want armor piercing we have doom divers, mangler squigs, pump wagons and fanatics that can bring the pain to high armored targets. Which in my opinion are far more worth their points than the razor.