The poem immediately dives into the cosmic meaning of the duality of this "earth-dream" we are living. Each time I recite this poem mentally, I receive more meaning from its words. My humble comments on the feelings the words bring to me today are in italic parenthesis.
"Vanished the veils of light and shade."
(everything is light, pure energy, that has no darkness)
"Lifted every vapor of sorrow,"
(human suffering is just part of this earth-dream)
"Sailed away all dawns of fleeting joy,"
(there is no permanence in material joys )
"Gone the dim sensory mirage".
(our senses are just the projection of our thoughts)
"Love...hate; health...disease; life...death; perished these false shadows on the screen of duality."
(all life is "maya", illusion and duality. There would be no meaning to "up", without the existence of "down")
"Waves of laughter, scyllas of sarcasm, melanchonic whirlpools, melting in the vast sea of bliss."
(all human materially centered thought and activities are nothing but distractions hiding from us the ever-present bliss of God's love)
"The storm of maya stilled by magic wand of intuition deep."
(the ups and downs, the frantic thoughts and activities of daily life, which are nothing more than the illusion, or maya, are calmed in deep daily meditation)
"The universe, forgotten dream, subconsciously lurks, ready to invade my newly-wakened memory divine."
(in deep meditation we remember that this world is just an illusion, a dream. As immortal souls we know this, but our attachment to material delusion has dimmed the memory of our true eternal nature as children of God, our inseparable oneness with the Infinite Cosmic Consciousness. When we come out of deep meditation, our memory once more fades and we return to the delusion of everyday maya, delusion)