Take the Encrusted Silithid Object to Umber - the Cenarion Circle's archivist - in the village of Nighthaven, Moonglade.
There's plenty to do here still, but I think taking this back to the Circle for analysis is key. Trust me - the work will still be here once this is all said and done. If it's a journal inside this sticky chitin, then the Circle would finally have a window into the past!
Take this to the Circle's archivist in Nighthaven. His name is Umber, and the man's brilliant. Touched, sure, but brilliant nonetheless! Umber's salvaged tomes in far worse shape than this. If it can be saved, he can do it.