Unfortunately, yes, as you said yourself, there are things which wouldn't work. Nonetheless, a brave attempt. Also a note to the last verse, which I might bring to your attention (and perhaps it might be helpful for you if I say that), in your interpretation "I have remained" would suddenly mean switching from Fëanor to the Silmarils as his creation, but I can assure you that "I have remained" refers still directly and exactly to the "speaker" of the riddle.
But go on, go on, even unsuccessful attempts bring you closer to finding the answer...
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"Should the story say 'he ate bread,' the dramatic producer can only show 'a piece of bread' according to his taste or fancy, but the hearer of the story will think of bread in general and picture it in some form of his own." -On Fairy-Stories
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