Aralithiel,
Thanks for starting this topic! I am also fascinated by The Sea Bell.
Frodo was always fascinated by the sea, so it is not surprising that it would feature in his dreams (it often did, dreams good and bad, pleasant and unsettling.) To me, The Sea Bell symbolizes more the suffering and isolation that Frodo endured as a result of his quest, in the Shire, before he crossed the sea.
I imagine that the loneliness and despair fueled by his experiences caused him to fear that he would never find rest (as he said to Gandalf on the way home.) I think the dream illustrates to us the isolation Frodo felt, and feared that he could never escape.
Hopefully the opposite was true; Tolkien said in his letters that Frodo was going to both a purgatory and a reward, a time of reflection and healing if that were possible. I like to think that he found acceptance, support, and friendship among the elves, until Sam showed up anyway.
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...down to the water to see the elves dance and sing upon the midsummer's eve.
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