Well, I think that we should take into account the context in which the words were created.
It is highly possible that dwarves have a common root for the words "clowns", "magma", "circus" and "candy". Not that is mandatory, but quite possible, as it was discovered at the same time and is generally linked.
You try to compare the diversity of our languages and of Dwarf. But you can't ! Because we europeans are highly mixed with several languages (speaking of French, latin, Norse, Gallic, Arabic and a lot more).
In the case of dwarves, even if we could, for example, use some words from human, elves or Goblin (I would like that the word "kidnapping", "rapt", "impalement" and "torture" would be the same in goblin and dwarf), the languages have very few chances to change, apart from internal changes. Therefore, I am for a language which could be near from its "natural" sources, that is to say that we should think of simple things and questions :
- When and why would they name these things for the first time ?
- Is it possible to combine these words ? After all, a dragon is a flying creature who can breathe fire. And a bronze colossus is a Bronze statue. Of course the word could have change. (bronze : kilrud and pillar : obok). Bronze statue could first have been "kilrud obok", litteraly, but after that could evolve with something logical, such as "Obolrud" or "kilobo", or anything which is quite near from the original source, but quite different. As it was said before, nobody thinks of a "key" and a "board" when he writes something on this forum. But the original of the word is simple...
- That's for the names. But what about adjectives and verbs ?