A strong, emotional instalment.
I've always been in the camp that says Clark had justification for not telling Lois he didn't die at Georgie Hairdo's club. First, in his eyes, Clark Kent for all intents and purposes did die that day, and in this story, has been dead for ten years. Also, as mentioned in other posts, people die, and their friends and loved ones have to deal with their grief and then move on with their life. This is what Clark wanted Lois, and others to do. Grieve for the loss of their friend (which, at the time, is all he thought he was to them)and move on.
Where this logic gets shaky is once he, and others who can point it out to him, figure it out that Lois is grieving far beyond what would be normal for the lost of a close friend. He should've made a point of finding out why she didn't seem to be able to move on and come to the realization the Lois had been in love with him. That love gives her more rights to the knowledge of what really happened.
Unlike Jimmy, or Perry, or Cat, or Eduardo, or any other friend or aquaintance that Clark had, Lois had moved to a catagory that was more on a par with his parents, and there was never a doubt that he wouldn't tell his parents the truth even though their relationship had to change significantly also.
Lois deserved to know the truth, and then she would be better equipted to make a decision on how to spend the rest of her life. If nothing else, the guilt she felt that she was responsible for Clark's death would be relieved. Whatever relationship they would have from that point would be something that they could figure out from there. Lois is a smart woman, she would know that she couldn't have any sort of open relationship with Clark, but she should have had the option to realize that for herself.
What it comes down to is the classic Lois and Clark angst formula. Lack of communication. Lois didn't realize until it was too late how she felt for Clark and so she didn't communicate that to him. And Clark, held onto his thinking that Lois didn't want him to be in love with her so he took back his admission in the park and held onto the 'friends only' status quo.
Gee, I wonder how many Lois and Clark fanfic would disappear if Lois and Clark just talked to each other

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Good story, looking forward to more.
Tank (who still thinks it's going to be a long tough road to get this set-up to a happy ending... if there is one)