I dunno. If it's wrapped up in an entertainment production of some variety (movie, magic show, stage play), that leads the viewer into realizing that everything that occurred prior (with the 'death') was the preface to said entertainment production, I think it will work just fine. People will get it in hindsight, total recall n all that. Movies do it all the time--with the story only making sense finally at the end.
Something like the cirque de solei show would work, because that show is darn near is the prelude to Bamsday already.
Non fans aren't going to be angry at MJ for faking his death because they aren't emotionally involved in the death. I think the fans will be the angriest, but they are the ones he has to worry the least about. They will huff n puff n carry on for a time, and then in the end they will be glad he's not dead. Right after they feel stupid for believing their beloved MJ was a weirdo drug addict that died like that.
Non fans will be most likely to think the whole thing is pretty awesome and daring. It will instantly change their perception of MJ.
Haters will always hate. You roll right over that and move on. A facet of non fans will become fans by being charmed and mystified by him not being dead. The rest of them will be surprised, laugh about it, and then move on. Fans will be angry, for a time, and then go back to adoring him, which they already do. Hoaxers will be relieved.
I mean really, if you don't care about MJ, you aren't going to care if he's dead or suddenly actually alive. If you hate MJ, you can't hate him more if it turns out that he is alive. If you love MJ, him being actually alive isn't going to make you hate him, even if you're a little angry that you were 'duped'. So really, again, MJ has nothing to lose.