The following UO Herald articles relate to this chapter.
"Royal Decree" is the official announcement of Casca's appointment: http://www.uoherald.com/news/news.php?newsid=495
This Chapter featured a unique twist in that the would-be King Casca was played in-game by each Shards Event Moderator. Thus, Casca on each shard had a unique personality and could be interacted with directly by players. Some Cascas appeared snaky and slippery, some "bribed" their new subjects with cake and wine, some managed to win over the skeptical. It was the same for Sherry the Mouse.
The name of this Chapter is possibly a reference to Ultima IX: Ascension (see Ultima Prime). To the extent that this is true, that title may, or may not, prove to be a brutal, savage irony, depending on what happens next.
An event to be held the weekend of March 20 to 22, 2009 (as announced by Game Developer Draconi) appears to mark the end of this Chapter.