It samples 2 times/sec so I do not think it will be TRMS and I do not think the crest factor will be high. But I'm not so digital. My benchmeters become more stable and more digits if I increase the sample time, but I think that means that it takes more samples, calculate the avarage and then displays it. That AX-155 only makes two samples in a second. I think that means it needs more as a second to show an AC signal that is 50Hz. But I see no refresh rate.
Funny, never thought about this. I will look if I can find the samples/sec for one of my TRMS meters (some measure upto 1 MHz AC and some do AC+DC, many RMS meters are AC coupled so give wrong readings if the signal has a DC offset)