I actually read that in the FAQs on IMDB, but I'm not sure that could be taken as canonical. Maybe DVD commentary in a few months will clear it up for good. I would prefer to think that he got to come back, but I seriously doubt it.

And Elizabeth can't just die and go work on the Dutchman. You have to 1) be a pirate/sailor, 2) die at sea, and 3) contract with Davy Jones/Captain of the Flying Dutchman to work for him for a hundred years at the outset before you die. So it isn't as simple as "Oh, I'm dead, let's go work with hubbie!"