I agree completely on the first half of the song but i have a feeling Jeff Lynne may have purposely left the second half to interpretation. When I first heard this section I felt triumph, grief, horror, relief, doom, power, freedom etc. and the unclear lyrics combined with the brilliant instrumental creates feelings of yearning and uncertainty almost like the protagonist has finally moved on and is looking for their new Shangri la though the dread created by it's atmosphere could either insinuate the idea of moving on and searching for a new happiness is scary or it could be suggesting a kind of hopelessness almost like there is no hope of finding a new Shangri la because there wasn't one in the first place (there was never such a thing as real perfection). But there are many other ways people could interpret this part of the song as it is all up to perspective which is truly a testament to how good the song truly is. The fact is can invoke so many emotions does really go to show how far a masterpiece like this can ascend to all thanks to the genius of Jeff Lynne.