You know what Bane damage is. It is damage added to the weapon's base damage rating whenever the weapon is swung against a mob of the bane type. Bane Vampyr, swing the thing against any Vampyr, and the bane damage gets added on.
Elemental damage, such as Magic, Fire, Ice, Poison, or Disease, is different. Each time you swing, the mob makes a resistance check. Depending on how well (or poorly, depending upon your inclinations) the mob fares against that check, none, some, or all of the elemental damage gets added in. This is most clear in the case of items with larger elemental damage amounts, such as the Longsword of Ethereal Energy. Graphing out your regular hit pattern with a non elemental damage weapon, then comparing that curve to what you get with the LSoEE will show you what I mean.
In the case of this 14+1 22 thing, the +1 is literally hit or miss. 1 base weapon damage cannot be partially mitigated away, so either the weapon hits as a 15 damage weapon, or a 14 damage weapon. (Or less, depending upon your level compared to the rec level)
the strange thing that somewhat sucks about added dmg like that , is it works semi like bane dmg, first the base dmg is added, run through the AC etc...then the 1 magick or 1 poison, whichever weapon you have that it is like that, an checks against the resists of the mob, if mobs resists go unchcked or passes then the 1 dmg is added...or so i've heard.