This way meets all the physical criteria to be a cycle way - 2+ m wide, routed away from houses, part of a looping circuit through a park, etc - except for a sign. And Casey council is very poor in this respect, as you know; I don't expect they will ever get around to it. I think you would be doing a disservice to everyone if you were to tag it bicycles=no, as that would not respect the reality.
So my answer is no. Please don't.
Actually, I've noticed the older part of this path to the west needs updating too.

Hi, I did bugger it up a bit, it was pretty bad. Sorry about that, thanks for your comment. I have deleted it. Was actually trying to show that there are multiple campsites spread over the area. Will try again when I get the time.

Thanks for your comment. I have moved this information to the description tag.

This section of Belgrave Hallam Road is a bit unusual as it is mostly bicycle lanes, but towards the Northern end they become raised concrete tracks adjacent to the roadway (then run out completely). I hopefully captured that nuance correctly in the different sections. There is also a separate pedestrian path on the western side. I felt putting the bike "track" as a seperate line then the pedestrian path would make it a bit too complicated.