Clickies on items do not use mana, and in general cases do not use components but there are exceptions where components are required.
Bloody Ancille's Pouch being one example of components being required.
The item does still drop, but it is pretty uncommon, maybe even rare. I've killed Hylog many many times and never had it drop for me, but have been down there when it has dropped for others. :(
Yther Ore.