Live at home, spinning, with wicked fairy tale character (2,8)
I believe the answer is:
in progress
'live' is the definition.
Both the answer and definition are adjectives. Maybe there's a link between them I don't understand?
'home spinning with wicked fairy tale character' is the wordplay.
'home' becomes 'in' ('he's home' can mean 'he's in').
'spinning with wicked fairy tale character' becomes 'progress' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'in'+'progress'='IN PROGRESS'
'at' is the link.
Can you help me to learn more?
(Other definitions for in progress that I've seen before include "still going on" , "Under way" .)