In the original : "Bulluc sterteş, bucke uerteş,"
Yup - though Tolkien does seem to have written his own version of this here, which might be actually be heort(e) sterteth, bulluc uerteth. This would be fine Middle English (heortwould, as far as I can tell with my rather slender grasp of Middle English, be the form expected for the 'AB' dialect, which could be kind of interesting). If he actually wrote heorot, that would have to be a bit of Old English worming its way in.
I wish it was just a little less blurry so we could make out that footnote better.
It is laden with history, leading back into the dark heathen ages beyond the memory of song, but not beyond the reach of imagination.