How can I correctly set up a 'Mesh Fold'?

I have a situation where I am trying to create a keyframe turn from the edge of a square mesh.
I have changed my model to quaternion mode. I have create the new axis, centre that on the centre
of my edge, inserted a keyframe at a start frame, and used the keys and mouse to do a
180 degree edge turn to the destination.

I use <ctrl> + <alt> + <space> to create a new axis. I presently don’t name it.
I press <r> to rotate, and the <y> and <y> to get to my desired new axis line.

-I have found that I need a mid keyframe to mark the 90 degree position, or that
I need to go to the graph editor to try and correction the location of the peak of the turn.
Otherwise, I get this crazy mesh behaviour.

How exactly do I avoid turning that axis, and keep it at the same position, withstanding transformations
on the object? Do I need to have proportional editing turned on?