When looking for the solution for this, I had little sucess. I just did it in game version 1.3.4 and I thought I write it down once so it can be found by others. Details about the riddle in the spoiler tags.
The archievement is based on the bosses being killed.
They will not spawn until the riddle is solved, but if others solve it you can just "catch a ride". You don't need to solve the riddle for the Archievement, you just need to fight the bosses (as usually for dungeon bosses and with the usual rules for getting "kill credit").
There are 6 plates, 2 plates for each of the 3 animals.
Over each of the plates is a light column (plate light)
The bosses spawn when the lights of all plates are offline.
The light for one set of animal plates go offline, if both plates of this animal are being stepped on at the same time (you need two players for this).
The animals plate-lights have to be disabeled in order (nothing happens if you step on the wrong ones). For me the order was: Scarab, Spider, Scorpion (outer ones first, inner last).
After the archievemnt is completed, the crest on the wall started to glow and could be used (E), but nothing happened on doing so. Propably the animation/dailog/whatever should happen on use is bugged.
Hope that helps.               
 
                              Elana Peterson (EU), Dominion, Imperial Sorc, Rune & Alchemy Crafting Char
Leonida Peterson (EU), Daggerfall, Kajiit Nightblade, Tank & main Crafter
Kurga Peterson (EU), Ebonhart, Ork Dragonknight, Provision Mule
Coldblood Peterson (EU) Argonian Templer, Daggerfall, Healer
Incendia Peterson (EU), Dominion, Dunmer Dragonknight, fire DPS & healer
Haldor Belendor (EU), Ebonhart, Breton Sorcerer, Tank
Fuliminictus Peterson (EU), Ebonhart, Altmer Sorcerer, Electric DPS
Me babbling about 
PvE roles and Armor, 
Short Guide to Addon Programming (for Programmers)
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