This mantra means You are the Breath of all, the Power of all, the savior of all, the Director of all. It can also be translated as O Lord, You are the Essence of all life and protector of all. You are the Universal Reveller and united with all.
When you meditate with this track you re meditating on the Breath of Life, the source of all Prana. It will fill energize your whole being with fresh prana and recharge you completely.