The Collaborative International Dictionary of English v.0.48:

Revery \Rev"er*y\, n.
   Same as Reverie.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Reverie \Rev"er*ie\, Revery \Rev"er*y\, n.; pl. Reveries. [F.
   r['e]verie, fr. r[^e]ver to dream, rave, be light-headed. Cf.
   Rave.]
   1. A loose or irregular train of thought occurring in musing
      or mediation; deep musing; daydream. "Rapt in nameless
      reveries." --Tennyson.
      [1913 Webster]

            When ideas float in our mind without any reflection
            or regard of the understanding, it is that which the
            French call revery, our language has scarce a name
            for it.                               --Locke.
      [1913 Webster]

   2. An extravagant conceit of the fancy; a vision. [R.]
      [1913 Webster]

            There are infinite reveries and numberless
            extravagancies pass through both [wise and foolish
            minds].                               --Addison.
      [1913 Webster]

WordNet (r) 3.0 (2006):

revery
    n 1: an abstracted state of absorption [syn: reverie,
         revery]
    2: absentminded dreaming while awake [syn: reverie, revery,
       daydream, daydreaming, oneirism, air castle, castle
       in the air, castle in Spain]