I would say yes, that is the correct way to go. The CMOS does not explicitly ask for licences, but it does not say they should not be there, either; in fact, according to CMOS 16, section 14.274 Audiovisual materials—elements to include,
Documentation of a recording usually includes some or all of the following pieces of information: the name of the composer, writer, performer, or other person primarily responsible for the content; the title, in italics or quotation marks, as applicable (see 8.192); the name of the recording company or publisher; any identifying number of the recording; indication of medium (compact disc, audiocassette, audiovisual file, etc.); and the copyright date or date of production or performance. Recordings consulted online should include a URL or DOI (see 14.5, 14.6). Supplementary information, such as the number of discs in an album and the duration of the recording, as applicable, may also be given. [my emphasis]
The CC licence information is clearly supplementary information in this context, albeit of a different type than the one they mention as an example.
In section 14.280 Online multimedia, they do not really say much that is very useful in the text, but the example citations given do give some hints, particularly the following example which quotes a YouTube video:
“HOROWITZ AT CARNEGIE HALL 2-Chopin Nocturne in Fm Op.55,” YouTube video, 5:53, from a performance televised by CBS on September 22, 1968, posted by “hubanj,” January 9, 2009, http://www.youtube.com/watch?v=cDVBtuWkMS8.
Adapting this for your photo credits, I would personally go with something like one of the following options:
“taxi,” Flickr photo, taken 11 December 2006, posted by Carolina Arevalo, 20 September 2010, https://www.flickr.com/photos/carolinaarevalo/5008340224 (accessed June 16, 2015). Licence at https://creativecommons.org/licenses/by/2.0.
“taxi,” digital image, taken 11 December 2006, posted to Flickr by Carolina Arevalo, 20 September 2010, https://www.flickr.com/photos/carolinaarevalo/5008340224 (accessed June 16, 2015). Licence at https://creativecommons.org/licenses/by/2.0.
(I would leave out your own description of the image in the Photo Credits section—that belongs as a caption to the image or in the body text, not as part of the credits.)
In cases where you do not have the name (or even a user name) of the photographer, but only their Flickr ID, you’ll just have to write that instead of the actual name:
“taxi,” digital image, taken 11 December 2006, posted to Flickr by user “13548987@NO9”, 20 September 2010, https://www.flickr.com/photos/carolinaarevalo/5008340224 (accessed June 16, 2015). Licence at https://creativecommons.org/licenses/by/2.0.
There are no special rules for rarely used prepositions. According to the Chicago Manual of Style, all prepositions should be lowercased (except when they are stressed or occur as the first or last word). But I hardly ever see this style used. The AP style is much more common. According to the AP stylebook all prepostions containing three letters or fewer should be lowercased, while the Wikipedia Manual of Style says all prepositions containing four letters or fewer should be lowercased.
However, the Wikipedia rules are not enforced, and as a result the capitalization on Wikipedia is a mess, and often in violation of the style manual (as you had observed). I think the reason for this is that the AP rules are dominant in real life, so this is what people are used to (i.e., what “looks right”). This explains many of the cases that you listed: down, over, unto, upon etc. are all capitalized according to AP style.
So regarding your examples, it depends on the style guide you choose whether the four-letter prepositions should be lowercased. Three- or two-letter prepositions like on, off, out or up should always be lowercased (if they are really used as prepositions and do not occur as first or last word). Yet should also be lowercased, if used as a conjunction.
There is no difference between book titles and song titles. The AP style for instance says that its composition title guidelines apply to book titles, movie titles, opera titles, album and song titles, radio and television program titles, and several more.
Best Answer
There is an excellent online resource called Title Case Converter. It allows you to enter text, and it then shows you how it would be formatted in title case according to the major style guides.
It also provides an explanation for each word if you select that option.
Here is what it says about the phrase in the question, after selecting Chicago as the style guide to use:
Note that there can be multiple reasons for a particular case. The case can also depend on the interpretation of how a word is being used, rather than just the word in isolation to everything else.