Nooooo doubt, it can be crafted. You can find cheap acrylia and chisel it down to small pieces and vice-versa. I farmed and bought cheaply about 90 slots worth of Blocks, Large Bricks and Small Bricks. I had only one fail at the forge and have stacks of small pieces now for my fletching. Block+Chisel=Large Brick[1], repeat on Large Brick for a small brick[1]. A small brick will yield TWO Small Pieces of Acrylia. That's the kicker.....you can get the blocks/bricks cheaper than the small pieces and chisel them down. My smithing was at 102ish when i did this and had over a 98% success rate.....
I've had acrylia drop from umberous toilers in ME. Not enought to call it a common drop, but certainly more common than the earring they supposidly drop.