I think Zombiesaur might be onto something with the rocket.
"Descent gains potency" would speak for itself if this was the case. "Ascend on with the great chronicle" fits the second launch and the continuation of the story. "Following tragedy most final" could allude to the initial tragic story with Cid's helper (can't remember her name) and "most final" might be more to do with the general course of Final Fantasy back stories being somewhat tragic, rather than any singular full stop tragedy in FFVII. It's just the first one I'm having trouble trying to string together a dodgy connection too.
"The Heliotrope bounty" might have something to do with the colour purple rather than a flower. Cid does issue a wonderful bouquet ( <) of "purple" expletives during his initial story.
I know, it's weak... but fun to try!
