Premise: This unique light brings a phosphorescence to the most commonplace little square or side street.

Hypothesis: This area has unique lighting that permeates to even the littlest side streets.
Answer: yes

Premise: In 1603 James VI of Scotland was thus crowned James I of England, marking the Union of the Crowns.

Hypothesis: The Union of the Crowns happened in 1603 when James VI of Scotland was crowned James I of England.
Answer: yes

Premise: Touch and go, he muttered.

Hypothesis: He spoke quietly under his breath.
Answer: yes

Premise: and do you know how much how long this is supposed to go on

Hypothesis: Are you aware of the starting date?
Answer: it is not possible to tell