We present numerical simulations of the flow confined in a wide gap Taylor-Couette system, with a rotating inner cylinder and variable length-to-gap aspect ratio. A complex experimental bifurcation scenario differing from the classical Ruelle-Takens route to chaos has been experimentally reported in this geometry. The wavy vortex flow becomes quasiperiodic due to an axisymmetric very low frequency mode. This mode plays a key role in the dynamics of the system, leading to the occurrence of chaos via a period-doubling scenario. Further increasing the rotation of the inner cylinder results in the appearance of a new flow pattern which is characterized by large amplitude oscillations localized in some of the vortex pairs. The purpose of this paper is to study numerically the dynamics of these axially localized states, paying special attention to the transition to chaos. Frequency analysis from time series simultaneously recorded at several points has been applied in order to identify the flow transitions taking place. It has been found that the very low frequency mode is essential to explain the behavior associated with the different transitions towards chaos including localized states.