Watch insect here shedding wings (6)
I believe the answer is:
'watch' is the definition.
(I know that watch can be written as ticker)
'insect here shedding wings' is the wordplay.
'insect' becomes 'tick' (I've seen this before).
'here shedding wings' becomes 'er' (I can't explain this - if you can you should give a lot more credence to this answer).
Can you help me to learn more?
(Other definitions for ticker that I've seen before include "Heart like a clock" , "Old watch or informal heart" , "- - -tape machine" , "Slang heart or old spring watch" , "teacher giving correct marks" .)