That's true, it doesn't; I was hoping you'd come up with some wild theories based around the Rings before I had to tell you that they have nothing to do with it.
But they have nothing to do with it.
Every clue includes both a straight part and a cryptic clue to the name. They are always separated by the = sign, though not necessarily always the same way round. Oh, and the elements are never part of the cryptic clue; think of them as bonus and very vague straight hints. (For instance, Lenwe lived in the woods...)
hS