Looks like a capsule filling machine
You're the closest so far! At least as far as function goes.
Its a press for mass (18) loading of wax bullets into primed cases for indoor target practice. It was developed by Pacific in the early '60s for Federal law enforcement. This one is mostly complete except for the tool that pushes the loaded cartridges out of the brass plates. This is used with fired cases that have had their primer pockets opened up a mite. Here's an assembled picture:
A half-block of paraffin fits into the blue base, and the cases go mouth down through the brass plate. The blued plate pulls the whole assembly together, and the case mouths are pressed through the paraffin. The blued plate is drilled so there are no issues with primer contact. This one is set up for 38 S&W, and 38 Spl. Once I knew what I was dealing with, I found people who claimed to have them in other calibers too.
I copied this from ebay, I did purchase this flyer from its (now) former owner.