The Ant and the Caterpillow is most likely a story from the Lost Collection. It was something Deidre’s father used to read to her when she was a child.
As for why we’re getting these pieces after each assessment. No idea, but then it’s fun so we’re just going with it. 
Do we have the entire story or are there still peices missing?
It seems like a resolution is still missing, the part where (I assume based on the story so far) the caterpillow becomes a butterfly-like creature and escapes with the red ant from the corvid.
Maybe it’ll turn into a Monarch butterfly?
Great goddess, well done chaps. Sorry I’ve been so patchy around. Massively well done.
What now?
Now we wait. Something’s bound to happen soon. Let’s just hope it’s before the storm hits…
Or not more damage to the Book.