I've been trying to figure this out all night. Seems unclear, BUT, Raise Dead et al. specifically can't bring back a character killed by a "death effect" -Not a death attack.
Breath of Life: Creatures slain by a death effects cannot be saved by breath of life.
Raise Dead: A creature who has been turned into an undead creature or killed by a death effect can't be raised by this spell.
Spells with the descriptor "death" are death effects (Ultimate Magic):
Death: Spells with the death descriptor directly attack a creature's life force to cause immediate death, or to draw on the power of a dead or dying creature. The death ward spell protects against death effects, and some creature types are immune to death effects.
Phantasmal Killer is a "fear" effect as per the descriptor, so wouldn't that mean, RAW, that PK'd characters can be raised?