I'm thinking that Wilwa's threads might be cryptic...but the only non-butterfly thread I can come up with is a spider's web (spider instead of butterfly/silkworm silk).
So, that would give me dancing spawn of ungoliant with Ungoliant as the first spider, but I have serious doubts.
From too literal to too symbolic. 
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People assume that time is a strict progression of cause to effect. But actually, from a non-linear, non-subjective viewpoint, it's more like a big ball of wibbly-wobbly, timey-wimey... stuff.
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