I think this is just Dreamtheater's normal cycle. He plays for as long as he can until his behavior earns him a reputation he cannot stomach and then there is a big "rebirth" of Dreamtheater, where everything is gonna be all sunshine and super-friends.
His first transformation that I know of was when he "left" Dragonmark Knights to form a guild composed of entirely new players (hmm I wonder why no one that already knew him joined the guild.)
His behavior at the new guild was so odious that he was soon confronted with an ultimatum to step down or the entire guild would disband and reform without him.
He then rebirths as Awaken, and states that he's only going to be in his own guild with no other players allows. This lasts a week or so before he joins Praetorians, with once again, the goal to be the biggest guild on Argonessen (not the best mind you, but the biggest). (Side note - Allorious, my friend, I knew wisdom was your dump stat, but jeez!)
Last week, another rebirth - his Dreamtheater account is deleted, (lies) and he's quitting the game for good. This dramatic declaration is another charade and in just a few days he's back to his old ways on the server.
Now, I suspect, his new plan is to reroll with an anonymous character and try his best to conceal his identity. I have my suspicions about who this character is, but I trust Dream to reveal himself through his actions eventually. My advice would be to try this rebirth/reroll on a new server instead, he has certainly worn out his welcome here.