Try to add labels after items, something like \item\label{1-1-2}%2 Important Stuff and then referencing it for example \ref{1-1-2}
Excerpt from \verb+paralist+ package, page 6:

In your example:
\documentclass[11pt]{book}
\usepackage{geometry}
\usepackage{paralist}%
\usepackage{hyperref}
\usepackage{cleveref}
\usepackage{lipsum}
\begin{document}
\chapter{The First}\label{1-0}
Excerpt from \verb+paralist+ package, page 6:
\noindent\rule{\linewidth}{1pt}
As an example, we use \verb+asparaenum+ within this paragraph.
\begin{enumerate}
\item Every \verb+\item+ is basically set as a separate paragraph. The second
line is not indented (this is a feature, not a bug).
\item The next \verb+\item+ looks like this and is labeled.
\end{enumerate}
The example was produced by the following piece of code:
\begin{asparaenum}
\item Every \dots
\item The next \dots \label{pl1}
\end{asparaenum}
By saying \verb+\ref{pl1}+ we get \ref{pl1}.
The \verb+inparaenum+ environment formats an enumerated list within a paragraph, just like the one in the introduction.
The example in the introduction was set by the following commands:
\begin{verbatim}
\dots of an enumerated environment that
\begin{inparaenum}[(a)]
\item can be used within paragraphs,
\item takes care of enumeration and
\item has items that can be referenced. \label{pl2}
\end{inparaenum}
Another posting mentioned ...
\end{verbatim}
By saying \verb+\ref{pl2}+ we get c.
\noindent\rule{\linewidth}{1pt}
\section{One}\label{1-1}
In your case:
\begin{asparaenum}
\item Some stuff
\item\label{item:1-1-2} Important Stuff
\end{asparaenum}
Occasionally, I would like to refer to just the item \emph{Important Stuff}, e.g \cref{item:1-1-2} in above list \dots
\section{Two}\label{1-2}
With use referencing some list item, you should be aware that when you do again like in the following case:
\begin{asparaenum}
\item Some stuff second time
\item\label{item:1-2-2} Important Stuff again
\end{asparaenum}
the \emph{Important Stuff again} has the same \verb+\cref+ mark as before, but corect hyperlink, e.g \cref{item:1-2-2},
\lipsum[2]
\newpage\noindent
which work correctly from any part of document, e.g see \cref{item:1-2-2} on the page \pageref{item:1-2-2}!
\lipsum[3]
\end{document}

\item\label{1-1-2}%2 Important Stuffand then referencing it for example\ref{1-1-2}. Is this what you like to achieve? – Zarko Jul 03 '17 at 20:13texdoc paralist, and then see page 6 for exactly the example, how to label an item. Besides that, having enumerations as subsections is a bad idea. – Keks Dose Jul 03 '17 at 20:19\subsection{}which I am only now learning how to do. As a result I must apologize to the authors of both answers which I do not know how to both accept. Nevertheless, I learned a lot from them. – schremmer Jul 31 '17 at 02:04