I feel they're best left apart. The major meanings of the two are aligned to the readings, so we'd have to have "usu. ..." notes on each sense as well as a restriction. Shinmeikai seems to be a bit on its own with that first sense for せいれい. Neither Koj nor Daijirin does it.

shinmeikai
せい れい【精霊】
1) 死者の霊魂。
2) 山川･草木など種種の物に宿ると考えられる神霊。精。

i think this should possibly be merged into 1751450 with a sense restriction