While playing I found a room with 3 bookshelfs. Upon touching them I got a new window showing a recipe. Place the cursor on the items in this window gave the item info. This is what happens when the info is long: http://screenshotuploader.com/s/k2GV9MlVZt
Looks to me like you've got a piece of wall deocration (a flame sconce) directly underneath your Clockwork Chainaxe. For what it's worth, though, I don't think the crafting info EVER tells you anything about the item except it's name.
