(This Is) The Dream of Evan and Chan

I think this song is about a guy who is stuck in the memory of a past lover.... it seems as if he goes off into a trance where he remembers all these moments that had together and then the telephone brings him back to life.

i wont let go, even if you say so= she wants him to let go, but he still holds on to his memory? maybe, i'm not so sure about it.