1.) We shall all rejoice as I said that purple eyed shadow impersonating Belle was NOT the shadow of Pan 🙂 the eyes and body shape gave it away.
2.) I think this shadow is a benevolent being, belonging to no one. It is a host, perhaps overseer of the boys who visit in their dreams. He just keeps things in check. Of course, when Malcolm comes along and tries to throw things out of balance, he takes a 300 year plan in order to get him out of there. But this is one theory.
3.) It COULD be Chernabog. He could have been living on Bald Moubtain, in NL. Feeding off nightmares perhaps? He could have his own purpose in what he did with Pan
"I could have the giant duck as my steed!" --Daniel Radcliffe
Keeper Of Tamara's Taser , Jafar's Staff, Kitsis’s Glasses , Ariel’s Tail, Dopey's Hat , Peter Pan’s Shadow, Outfit, & Pied Cloak,Red Queen's Castle, White Rabbit's Power To World Hop, Zelena's BroomStick, & ALL MAGIC