Does Dialyzer understand Elixir? Last I knew, it could only process Erlang source code and BEAM files. Looking around, it seems like folks running Dialyzer against Elixir code are using some "dialyxer" thing.
You talk about circular dependencies causing minor compilation troubles, so it doesn't sound like you're talking about types defined in terms of each other. I might be unaware of something important, given that I've never had the opportunity to do Erlang professionally [0]... but aren't the only "dependencies" of BEAM files the exported functions they call in other modules? If I'm not wrong about that, then what happens when you run Dialyzer against BEAM files compiled from Elixir that has circular dependencies? Do its reports become more reliable, or does the reliability of those reports become irrelevant because the transformations the Elixir build system makes to your code make the structure of the BEAM code difficult to trace back to the Elixir source code?
[0] ...and have written nearly zero Elixir in any context...