WTF!!!!
Copied the below from reddit
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I figured it out guys.
I was watching Fullmetal Alchemist and I strung this together. Heads up, this may contain indirect spoilers to the show if you haven't watched it...
Here is the answer: Imgur
So I know this may seem ridiculous, but hear me out, I don't entirely know the meaning of lake in these translations, but otherwise if we attribute each rune to a city I think it would go as follows:
•Need Horse Lake - Whiterun, symbol of a horse for the map marker
•Need Human Lake - Morthal, similar to Mortal, which could represent human
•Day Need - Dawnstar, dawn star, like the sun
•Giant Ice Sun - I believe this to be Winterhold due to it being at the top of the circle, as in the sun, and it is cold there?
•Need Hail ____ - Being unsure of the last word I assume this to be Windhelm as it is cold there, and that may relate it to hail.
Now that shows the outer areas, and as I was looking at this I realised that it was in the shape of a circle, and if you connect the cities, it made a pentagon. Now, I looked at the pentagon, and at the center of each line, there was something interesting. First was Skyborn Altar, Second was Shearpoint, Third was Mount Anthor, those are all area's with dragons, so it was easy enough to figure those out. I assume once all the dragons are dead, the last place you would go is the Tower Stone, which is said to give you the ability to unlock expert locks or in our case the answer to our puzzle, but that left one more location; Mzinchaleft.
Now I was unsure on how Mzinchaleft fit into the picture here, but after doing a bit of research, I discovered that Mzinchaleft leads to Blackreach, where I discovered the fight with the dragon Vulthuryol. So that solved that, Kill the 4 dragons and activate the tower stone.
The last piece of the puzzle is where to go, where is the center of this circle? well a little bit of exploring lead me to the Waynon Stones, and if you have ever been there you should know what it looks like. If you haven't been there, it is a circle of stones with a statue of Talos with a dragon coiled at his feet, but most importantly there is an offering table across from Talos.
Now this explains the shape of the transmutation circle, but now for the process.
•Step 1: First comes the crests of blood. Basically just go on a killing spree in each of the 5 cities.
•Step 2: The inner Pentagon. The dragons must be enough to suffice for each point in the inner pentagon, and the Tower Stone unlocks the ability to use the transmutation circle.
•Step 3: Head to the Weynon Stones and place the bugs in the jars in a circle on the altar, placing each bug corresponding to it's respective cities location. These will act as your sacrifices.
•Step 4: Wait for "The Promised Day" to activate your transmutation circle and obtain ultimate power.
tldr: Its a transmutation circle
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AND...
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Guys guys I figured out what "The Promised Day" is, and that the ultimate power is.
(Possible SPOILERS)
Imagine how this could tie into real life, and the the timing of this fabulous puzzle. The "Promised Day" HAS to be Christmas, because that's when one opens their promised presents.
As for the ultimate power... Transmutation isn't just about alchemy, but refers to transmutation of species, used by Lamarck. you are Dragonborn, with the soul of a dragon, and the body of a mortal. In Lamarckism, what happens if an organism uses something for an extended period of time? That's right.
Wiki: http://en.wikipedia.org/wiki/Transmutation_of_species
You. Will. Be. Able. To. Transform. Into. A. Goddamned. Dragon. After. Christmas.
This also explains the delay in releasing the Creation Kit; can't have someone digging through and spoiling the big surprise, can we?
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OMGWTF
