After freezing the transformations, regardless if the orientation axis is local or world; the object doesn't rotate with the manipulator centered to the object, rather it's angled, obviously causing the object not to rotate aligned ?
W+right click > Axis > Custom > Set to edge > Select one edge It's possible that it's called "Set to component". What this does is that it aligns your manipulator to the selected edge/face/vertex.
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It's possible that it's called "Set to component". What this does is that it aligns your manipulator to the selected edge/face/vertex.