We report Raman scattering measurements on iron-pnictide superconductor Ba(Fe$_{1-x}$Co$_x$)$_2$As$_2$ single crystals with varying cobalt $x$ content. The electronic Raman continuum shows a strong spectral weight redistribution upon entering the magnetic phase induced by the opening of the Spin Density Wave (SDW) gap. It displays two spectral features that weaken with doping, which are assigned to two SDW induced electronic transitions. Raman symmetry arguments are discussed to identify the origin of these electronic transitions in terms of orbital ordering in the magnetic phase. Our data do not seem consistent with an orbital ordering scenario and advocate for a more conventional band-folding picture with two types of electronic transitions in the SDW state, a high energy transition between two anti-crossed SDW bands and a lower energy transition involving a folded band that do not anti-cross in the SDW state. The latter transition could be linked to the presence of Dirac cones in the electronic dispersion of the magnetic state. The spectra in the SDW state also show significant coupling between the arsenide optical phonon and the electronic continuum. The symmetry dependence of the arsenide phonon intensity indicates a strong in-plane anisotropy of the dielectric susceptibility in the magnetic state.
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