Does action potential only involve the electrical signal traveling down the axon, or does it also include the sodium ions pushing the potassium ions out?
The all-or-nothing action potential is the term used to describe the electrical signal traveling down the axon. The sodium-potassium pump is not encapsulated by this term, but they do happen as part of one larger process: neurotransmission!
The action potential is the electrical signal caused by the influx of sodium and potassium ions rushing in and depolarizing the axon. The process of pushing them out is called the refractory period.