The problem seems to be as described in the error message: The audio you tried to import is not what I call a “composition”. A composition is an audio file that, additionally to the audio data, contains data to tell the Glyphs when they should light up (“light data”). This data is missing from the audio. The Glyph Composer app does not automatically generate this data for you.
What you can do is set the audio as you ringtone via the audio settings and the phone will try to make up some light sequence on the fly when you get a call. Alternatively you can look into these apps/tools to generate the needed light data: