Strategically it's a bad idea to have make a Skink Chief on foot your BSB. However, wouldn't it be fun to give him the Razor Standard and put him in a unit of Skinks? 14 skirmishers + chief = 30 poisoned, Armour piercing shots. Or the Banner of Eternal Flame could be nice against trolls or hydras. If only they weren't so squishy...
You could do that on Skrox units as well, and get the bonus for javs being Quick to Fire (literally, in this case).
If you want to maximize "death by blowpipes", then you want Lore of Metal. Buff the skinks for not only armor piercing, but +1 to hit and magical attacks as well. You can also rot the armor of your foes by -1 permanently as many times as you want, and those armor penalties start to stack up. Then your blowpipes will have an easy time dropping heaps of enemies.
Why? The BRB clearly states that any weapon with that rule inflict a further -1 armour save modifier. Read beyond the first 5 non-italic'ed words. The standards rules do not state CC only.
Yes, but the standard does not grant the weapon armor piercing, it grants it to the model. Under the armor piercing rule it says models with the armor piecing rule get it in close combat. I know it can seem a little vague, but I am sure it is intentional when comparing it to the Banner ot the Eternal Flame which has the same wording as the Razor Banner except for flaming attacks. When you look up flaming attacks it says the model gets flaming attacks for both close combat and ranged attacks. As the rules currently stand it would need to say something to the effect that all models in the unit and weapons they bear gain armor peircing. Or the armor piercing special rules would need to read the same as the flaming attacks special rules. I think it is pretty clear and that is it not the intent for ranged weapons to gain armor peircing from the Razor Banner. It might get FAQed later, but it seems odd that they would give the banners the same wording but not give the special rules the same wording if they didn't want them to work differently.