Can anyone identify this tool?

diopter

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95 % sure it's not for guns, but what?
Watches?
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Both ends have a flat spring I presume for retention.
 
I believe it's a sewing machine tool, an old one

Yeah, I could see that as a tool used by the fat-fingered, while running thread in to a sewing machine's works.

Not like any watch or clock tool I have ever seen, and I have seen more than most.

Take it to a sewing machine repair shop and see what they say. They will probably be able to tell you which make it was sold for.
 
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