This question consists of two parts. I'm not breaking it up into two separate ones because posing the second question would essentially require me two rewrite the first one. Also, to some extent, the second question makes sense only if there is a proper and well-known answer to the first one.
Part 1
For convenience sake I'll only be concerned with convex polyhedral cones with vertex at the origin. (More precisely: whose face of minimal dimension contains the origin, to take cones containing whole affine subspaces into account.)
Given a pair of such cones, one in $\mathbb{R}^m$ and one in $\mathbb{R}^n$ one may consider their "direct sum" -- their Minkowski sum in $\mathbb{R}^{m+n}$. What I'm interested in is the other direction. It may so happen that a cone decomposes into a direct sum, i.e. the containing space decomposes into the sum of two independent subspaces in such a way that our cone is the Minkowski sum of its intersections with the subspaces.
Given a decomposition of a cone, one may now proceed to decompose the components and so on, obtaining a decompositon of our cone into indecomposable ones. It is natural to expect some uniqueness result to hold for this decomposition. What I'm looking for is the correct, concise and (if applicable) well-established formulation of this statement. (And a reference, of course.)
Remark. It looks as if the face lattice of a direct sum of cones is the product of their face lattices. Is there such a decomposition theorem for (geometric) lattices? And might it be that the cone's decomposition is somehow determined solely by the combinatorics of its face lattice?
Part 2
What made me stumble upon the above is the following. To each of my cones there is a polynomial associated of the form $$(1-t)^{d_1}(1-t^2)^{d_2}\ldots(1-t^k)^{d_k}.$$ The number $k$ is some number which is much smaller than the dimension of the cone.
After some examination I was able to deduce that $d_1$ is the number of indecomposable components (in the above sense) which are one dimensional lines (not rays!), i.e. it is the dimension of the cone's apex (face of minimal dimension). Furthermore, $d_2$ is the the number of components which are non-simplicial cones. (Any indecomposable cone is either a line, a ray or an indecomposable non-simplicial cone.)
Unfortunately, that's as far as I got right now. Does this polynomial look reminiscent of anything from lattice theory or convex geometry?
Clarification. The $d_i$ are defined in terms of some combinatorial data specific to the cones in consideration (actually, nothing more than the face cones of the Gelfand-Tsetlin polytope). What I'm trying to do is generalize this definition to arbitrary polyhedral cones.