That Gnawing Feeling

That Gnawing Feeling is a Dread Possibility discussed in Quoth the Raven Issue 27, The Conferences of Victor Gagné IV.

Per this Dread Possibility, the Red Haunt - particularly her persona Imogen Schlosser - is engaged in a longterm plan to sink the island of Todstein into the sea as part of her vendetta with Meredoth.

The Fiend has been breeding large, crablike aquatic horrors in her oubliette lair, the Retreat. While initially carnivorous, as these beasts mature their nutritional needs change to requiring the bedrock of Todstein island. The Red Haunt releases her creatures into the Nocturnal Sea and allows them to find their own way across the seabed until they come to Todstein, where they proceed to dig and chew away at the very basis of Meredoth's home.

Nor are the crustaceans the full extent of the Fiend's plans. Following in the wake of her rock-eaters are special Enlightened Children, equipped with both wings and gills. These set up a cordon around Todstein, awaiting the day that the island will collapse, casting Meredoth's home into the ocean. Once the old Necromancer flees his sinking home, the Children will rise from the water, armed with anti-magic weaponry. They do not need to kill Meredoth, only distract him long enough for the Red Haunt to get her claws on him.

The Red Haunt does not expect Meredoth to die the final death at her hands. She just wants to make it hurt so much that she'll leave a lasting impression - and delay Meredoth's return by whatever clone or other contingency he's set up. During that delay, she and whichever of her servants remain in the area will loot Meredoth's lair, stripping it of all his treasures she can reach, as revenge for the old wizard's attempt to do the same to her by sending his lebendtod to supposedly serve her.