... they are pretty "juicy"
Not uncommon in Elms... they are pretty "juicy"- that fluid below the bark can freeze and swell and cause the bark to damage easily during times of extreme cold... especially with roots there seems to be a higher propensity of this... I once damaged a root just by touching it on a cold morning! Perhaps, was this a root cutting?
Exactly!.....those weren't buds....those were teeth developing.