I echo what has been said. Those cracking noises don't come from those chrysals in the belly. Inspect the glue line real closely and use a cotton ball to rub the back.
I don't know what the unbraced bow looks like, but judging from the braced picture, the bow bending mainly near the handle. That would just be bad tiller, and explain the localized chrysals. It's going to be hard to salvage this bow. Your best bet would be to re-tiller it so the midlimbs bend more. That relieves pressure from those chrysals and probably stops them from getting worse. But then you still have to tackle the problem with the cracking noise...which is a different problem in itself.