5th playthrough and I just noticed than whenever someone says his name in Broken Valley, Bellegar shouts it in the distance and you can hear it echoing. Eugene (Clyde and Jackal) mentions a mage was responsible for the merging of the two into one in which Bellegar will shout his name when Eugene mentions says the word mage.
My conclusion is that Bellegar is quite literally stalking the Dragon Knight or is at least on a high mountain somewhere watching all of the people he has messed with via magic.
Bellegar is the ultimate troll.
