The words in the former are made up so don't think you can tell what the "correct" way to read it. You'll have better luck looking up the meaning of the kanji. As for the later, looks good to me either way.
血啜 means sucking-in blood (like you'd suck-in ramen noodles), although it's normally a sentence and not a noun (血を啜る). The noun here sounds made up. This description is normally reserved for super-natural, evil things (like 化け猫). 獣斧 would mean a "beast axe", possibly "axe used by a beast (as in super-natural, evil beast)". That's also a made up word. I don't quite know how to parse
約束されざる守護の車輪 but something like "Wheel of protection that wasn't promised"?