That's right. Break was ended, but Brake's still there. Break and brake have pretty different meanings, as break's a destruction, a stop, and brake is a stop to riding (living?) from which you can proceed again. Maybe it's got something to do with the brake of time, completing a trilogy of Chrono. It's very likely there will never be a third, but even if they do plan to do so sometime, maybe much years from now, it would most definitly be with Melchior as the "guide".
Also, it may seem a little farfetched, but it kind of suits his job as guru of life. If something could put a brake on time and everything would stop, thus kind of die, the guru of life should be able to lift the brake somehow... but that's just rough speculation leading to meaningless debates. Still that'd be nice, to think the three guru's could be having guideroles all in their own piece of timeline. Time, reason and life are kind of the things needed for the planet to exist. They counterpart eachother. Time needs reason to make evolution to life, life needs time to keep living, reason needs life to be made. Could be possible the three guru's are the entity, the planet.