In this case, the C declaration doesn't match the other two. The variable x is a function that returns a pointer to an array of 5 pointers to functions returning char. Indeed, that's what cdecl.org says:
declare x as function returning pointer to array 5 of pointer to function returning char
Using the notation you did, that would be:
var x: func() ^[5] ^func() char
There are only two arrows there now.
If you wanted a pointer to a function like this, you would need a third asterisk in the declaration:
char (*(*(*x)())[5])();