I was the champion of Cerberus, and wielded his dagger. When we first learned of the daggers, three of them were weakened (Cerberus, Muse, and Dragon). The result of the weakening was from the ex-elder Basilisk. Many believe he was spiteful to the other elders and wanted to bring them down to his level. I have talked with the Basilik many many many years ago and his reasoning is him becoming mortal has given him reason to live, and wanted his brethren elders to feel the exhilaration of becoming mortal. I believe it was a bit of both. Meanwhile these "quests" given to the champion are not per say quests but more of an urge and you do not know it till you are the elders champion. So being a younger less experience adventurer I took the dagger seeking power. The urge that I received from being Cerberus champion was to kill all other champions. Many of these other champions were my friends but given the chance I would have tried to kill them. Time jumping to were we are now (hence why I spoke to the basilisk many many years ago) I still had the dagger for a short period of time before magic started snapping into place and the dagger magically vanished from my side and my burden had been lifted of its anger and rage. Only to end up in the hands of the barbarian warlord who claimed it had been in his family for generations ( I had no reason to doubt him).
The elders being locked away as they are does not give them a lot of freedom to do what they want, if not all freedom removed, but the champions still wielded their power. According to Cerberus last I talked (while this big ritual was being cast last time) with him the barbarian warlord had just been using his power and Cerberus did not like that, and he wanted me as his champion again. Gaining a little wisdom from previous mistakes I refused his offer but he still needed someone to give him a little power to be released. I offered Cerberus a deal I would give him some of my power in return he revokes the barbarian warlords from using his dagger.
The dagger is very powerful, by a single cut it would send the victim into a rage trying to kill anything in sight. I cannot tell you what aspect of magic cerberus wand represents. I honestly do not think it was chaos, I believe that is shadows. I believe but could be mistake that it is the curse group.
I hope this helps and although I have not met you Zane I wish you luck, and do not believe you will have to fight any chaos type elders, as both of them have been released and those would be Cerberus and Shadow.
-Bishop