AadaraNIya Nityanandji,
If you observe the method followed by this dictionary you may notice that the intended word here is paramākṣara not paramaśōbhanākṣara.
For example, in the same entry, he gives -hamsa which when taken as paramahamsa only can mean what he gives as 'ascetic of the highest order' or 'universal soul'.
In another entry in the same column for also, he gives -ānanda , -anna, -āpad, -artha, -tas etc. which can not be paraātmānanda etc.
only when parama- alone is substituted for the hyphen, all the words get the meaning he gives:
paramānanda = supreme joy, paramānna = (best food) rice boiled in milk , paramāpad = greatest misfortune, paramārtha = whole truth, true state of the case, reality, paramatas =in reality