This is a very interesting two of wands for me. Usually I think of two of wands as a card of personal power/empowerment (it is mars in aries anyhow!). However, here we find a very reflective frog (with a tinge of sadness or regret? or just deep in thought?). The usual globe is instead a pale sphere, and it reminds me of a crystal ball... or could it be a frog egg (his child)?
I try to imagine the story behind this frog. Perhaps he is contemplating whether to send out his ships on a long journey for financial or political gain, but he wants to make sure the risk is appropriate before committing? He appears to be weighing two options available.
Perhaps he's just said goodbye to his ships and is praying for a successful mission? Perhaps he is mulling over problems in the realm and determining the best course of action?
He is on top of the Tower (foreshadowing..); and as we know from the Major Arcana, Towers are not immune to attack or disaster. This is a ruler with great power who hopes to find a creative, powerful, and appropriate way to handle his kingdom and its resources.. but perhaps he is also worrying too much? Or has he realized he went overboard and is regretting past decisions?
I think the way this card should be read is very dependent upon the situation and surrounding cards. I also see a lot of the qabalistic influence of Chockmah here - "consious creation, reflection, and comparison" (Corinne Kenner - "Tarot and Astrology" p 112).