^^ How mysterious is Mrs Frederic, though? really. She's a Human being, she's got kids and grandkids. We know that she's very old and connected to the Warehouse. She's cool because she is who she is. I don't think knowing her biography would lessen that.
A lot of fan theories seem to be pointing towards McPherson having something to do with this.
We don't know exactly what McPherson knew about the watch, why he left it for Artie. I wonder if McPherson used the astrolabe which caused him to turn evil, both he and Artie's possessor were releasing artifacts into the world...
That's an interesting theory. Since McPherson was redeemed, it would be cool if he were to somehow come back and save Artie.