Thank you all so much for your responses!
@Barbara.H, I do have another James Worsley and a Henry Worsley, both of The Laund, in between H W Worsley(-Taylor)'s father James, and Nicholas Worsley of Rising Bridge. But I will investigate these carefully, as I now rather suspect the notes I was given (see below).
@Radcliff, you're quite right that it makes no sense for Nicholas Worsley's father James to have been born in 1688 given that Nicholas himself was born in 1700. And now that I look at my tree again, I don't have 1688 for James Worsley -- so I'm not sure where I got that idea from. But if Thomas Worsley and Elizabeth Ramsbottom were married in late 1684, it's still unlikely that James was born more than 16 years before Nicholas, so perhaps this whole line is suspect.
@BashLad, what a small world! From your username I would guess you are in Bashall Eaves? Moreton Hall is gone, the Worsley-Taylors have "daughtered out" and none of those daughters (now past child-bearing age) have children, so the estate is now in trust.