While you won't be seeing this card in any top 8 decks, Akki Lavarunner is one of those crazy flip cards. The interesting thing about this one, besides costing 3R for a 1/1 Goblin with Haste, is that whenever he deals damage to an opponent, you get to flip it right away.
Tok-Tok, Volcano Born, his flipside, is an interesting Legendary Creature. He's a 2/2 with Protection from Red, and if a Red source would deal damage to a player, it deals that damage plus 1 to that player instead. It's a pretty decent effect, and in a Goblin deck, having a creature like him would certainly be welcome.
There's only one downside here. You have to have him deal damage to a player before you can get his effect. In a Goblin deck, he could be well more than a 1/1 though. And if you do get his flip side, your Goblin Grenades can become 6 to the face to a player, and suddenly a card like Hellrider makes those declare attack triggers hit twice as hard.
Yes, the damage +1 can hurt you, too, but in the right Goblin-centered deck, that sort of ability would be devastatingly good. Were this not a flip card and instead just Tok-Tok, this would actually be very playable. While Wizards was probably right to make this a flip card, it's interesting to think what might have been were Tok-Tok his own man...