awful does mean "full of awe" ... or originally did anyway. The more modern sense evolved from the original meaning. Type 'awful' into the M-W dictionary link above and read definition 2 as well as the bit at the end about how the modern sense compares to the original meaning.
As every film buff knows John Wayne had his own understanding of awe. When cast as the Roman soldier at the crucifixion he had the line 'He truly was the Son of God'. He delivered it with insufficient feeling for the director who told him 'Say the words with awe, John'. So, on the retake our soldier looked up at the cross and delivered the solemn line ' Aw, He truly was the Son Of God'.
Nerdy Post Script: The line as written was actually'Truly this man was the Son of God', the film was The Greatest Story Ever Told ( 1965), the director was George Stevens and this story, sometimes thought apocryphal, was approved by Wayne himself , though whether he did so correctly or simply because of politeness to the raconteur,modesty, or faulty memory is unknown.
