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[-JKP-]

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The blue elements may be either undeveloped flowers or fruit, although I have no idea why they would be blue.

I have also no idea about the eye, except that legends say that Odin hang on the Yggdrasil ash for nine days, and Odin is a one-eyed god (the other eye he sacrificed to Mimir in exchange for wisdom or something like that). This mnemonic would look to me a bit superfluos.

If the blue is emerging fruit, it might fit with other plants in the VMS where the part that resembles seed heads has been painted blue.

I can't respond to your other comments at the moment, gotta run, but you made some interesting observations.