readFromNBT contains all the basic stuff of an Entity: Position, motion, fall distance, if its on fire, prev tick rotation etc..
readEntityFromNBT is for classes which extend the Entity class to add their own new variables. So eg. the EntityTNT contains the fuse timer in there.
readEntityFromNBT is abstract in the Entity class and gets called by readFromNBT.
It sounds like each time you're returning a new ItemStack which is what usually causes the hotbar tooltip to appear. Try returning the same item stack you started with.
Edit: I've found a solution. You can disable held item tooltips on the fly with:
Minecraft.getMinecraft().gameSettings.heldItemTooltips = false;
And then just set it to true after you perform your updates.
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Name the lang file en_US.lang or put a mcmeta file for a resource pack that specifies the correct version.
Did you register the model in the ModelRegistryEvent using ModelLoader.setCustomModelResourceLocation
Which tutorial did you use? Because from what I can see, your ModBlocks class is not registered to the event bus. I do not know if it is different with the registry stuff, but usually you register the class with your events by using MinecraftForge.EVENT_BUS.register(new_instance_of_your_class);
Try add that to the preInit of your mod. In this case the instance would be a new ModBlocks instance.