Belkar thinks he's Chaotic Good?

[Living Oxymoron]

Or Belkar never died in his dream, and Shojo has been resurrected somehow. But his wake up line implies he thinks he's dead.

I think that is way more probable than "Belkar thinks he is Chaotic Good". He is a dim bulb, but not that dim.

I don't think that Shojo would be ressurected in Belkar's dream. That would be incoherent, since Belkar was the only one to justify the unsuccessful attempts of ressurecting Shojo.

My opinion is that Haley tried to explain the effects of the spell, but she doesn't really know what the spell actually does. So she ignored the fact that everyone there, Belkar and Scruffy included, were sharing the same dream, in which Belkar died, and lived his afterlife with Scruffy and Shojo. And we should not forget the cat's feelings too, that I think to be the main reason to Shojo be in the dream. Thus, the last panel:
Yup. Definitely just my dream.