er.. that would be exactly what it means.
It means you're in a dream, and you know you are.
Consequences are you can control the dream, manipulate it and extrapolate it to include as many flying purple winged unicorns you want.
In other words.
Controllable virtual reality machine. At your disposal.
Aaaahhh.
Wonderful.
I love cracked.com
I shall master this.
Then I can hack disturbing people to death all I want.
And of course do much much more than that.
AHahhahahaahhahaahaa.
Universal domination
In my brain.