This had Chris Parrish and I stumped in the field. I think it is C. caespiticia because of the tiny, completely decorticate podetia, and highly dissected squamules. It's just weird to see it so three-dimensional, almost like it's a weird C. squamosa. This was growing on several extremely rotten logs and stumps deep in the valley beside the Caldwell Fork. Normally I see C. caespiticia on exposed, sunny soil banks. I will collect a piece and send it to James Lendemer next time I'm in the area.