The Svadhisthana Cakra
Aṅgacchadaiḥ parivṛtaṁ taḍidābhavarņaiḥ
bādyaiḥ sabindu-lasitaiśca Puraṁdarāntaiḥ
There is another Lotus placed inside the Susumna at the root of the genitals, of a beautiful vermillion colour. On its six petals are the letters from Ba to Puramdara, with the Bindu superposed, of the shining colour of lightning.
Another lotus = the Svadhisthana-Cakra.
}Puramdara = the letter La
Bindu = The Anusvara
mambhojamaņdalamatho varuņasya tasya
Within it [Svadhisthana] is the white, shining, watery region of Varuna, of the shape of a half-moon, and therein, seated on a Makara, is the Bija Vam, stainless and white as the autumnal moon.
Makara = mythical animal somewhat like an alligator
Tasyānkadeśakalito harireva pāyāt
May Hari who is within it, who is in the pride of early youth, whose body is of a luminous blue beautiful to behold, who is dressed in yellow raiment, is four armed, and wears the Sri-vatsa, and the Kaustubha, protect us!
Within it: Vishnu is within the lap of the Bindu of Vam.
Sri-vatsa = an auspicious curl on the breast of Visnu and his avatar, Krishna, which symbolizes Prakrti.
Kaustubha = a great gem worn by Vishnu.
Atraiva bhāti satataṁ khalu rākiņī sā
It is here [in the Svadhisthana] that Rakini always dwells. She is of the colour of a blue lotus. The beauty of Her body is enhanced by Her uplifted arms holding various weapons. She is dressed in celestial raiment and ornaments, and Her mind is exalted with the drinking of ambrosia.
Dwells = bhati, lit., “shines”
stasyāhaṁkāradoṣādiksakalarepuḥ kṣīyate tatkṣaņena
gadyaih padyaiḥ parabhandhairviracayati sudhāvākyasandoha lakṣmiḥ
He who meditates upon this stainless Lotus, which is named Svadhisthana, is freed immediately from all his enemies, such as the fault of Ahamkara and so forth. He becomes a Lord among Yogis, and is like the Sun illumining the dense darkness of ignorance. The wealth of his nectar-like words flows in prose and verse in well-reasoned discourse.
His enemies = the six passions, i.e., kama (lust), krodha (anger), lobha (greed), moha (delusion), mada (pride), matsaryya (envy), which all arise from a sense of me-ness (ahamkara).
Ahamkara = egoism.
Ignorance = moha.