So, I decided to resume my progress with crafting. I noticed that the Dragonspyre crafting quest wasn't listed as one of my "current quests", but Balthazar had a grey question mark over his head with the quest "Two Ring Circus", so I must've accepted it. I went on and crafted the two rings but it didn't work! It still isn't showing up in my current quests and when I go talk to Balthazar he says "I am the Master Artisan of Dragonspyre. Do not trouble me with trivialities." even though I definitely, no doubt about it, crafted both rings.
Yes, both the rings are in my bag and didn't spill over. No, I didn't buy the rings I actually crafted them.