Bhashya
तस्य ह वा इत्यादि सर्वमुपसंहृतमित्यन्तं स्पष्टार्थम् ।स्थानं जानीयात् पदं जानीयान् ।एकादशपदा वा अनुष्टुब्भवतीत्युपसंहारात् प्राक्तनः सर्वोऽपि स्थानशब्दः पदे वर्तते ।यस्मादभिधानाभिधेयप्रपञ्चस्याभिधानाव्यतिरेकात् ‘वाचारम्भणं विकारो नामधेयम्’ इति श्रुतेः नामप्रपञ्चस्य सामान्यविशेषात्मकस्यानुष्टुन्नामाव्यतिरेकात् अनुष्टुभश्च आद्यब्रह्मविवर्तात्मकत्वात् साकारब्रह्मप्रतिपादकत्वेन ब्रह्मत्वे सिद्धे ब्रह्मणश्च सृष्ट्युपसंहारकारणत्वेनोपादानत्वादित्यनुष्टुबेवोपादानम् , तस्मात्सर्वमानुष्टुभमित्यादि गच्छतीत्यन्तं स्पष्टार्थे व्याख्येयमुक्तार्थम् ॥
In plain words
The line that opens 'his indeed…' and runs to 'all this is drawn back in' means exactly what it says. Read 'station' as 'word' throughout — all the way up to the summary, 'the anuṣṭubh has eleven words', every earlier 'station' has really meant 'word'. Why? Because the whole world of things and the words that name them are never, in the end, two separate things — just as scripture already says: whatever changes is only ever a name, a way speech has of pointing. In exactly the same way, the whole world of names, the general kinds and the particular things alike, is nothing apart from this one name, 'anuṣṭubh'. And the anuṣṭubh itself is Brahman wearing this shape, since it is what expresses Brahman-with-form — so its identity with Brahman stands. And because Brahman is the very source from which the world is poured out and into which it is drawn back, Brahman is the material it is made of — which means, here, the anuṣṭubh is that material. So the closing line, 'all this is the anuṣṭubh… and one attains [immortality]', follows exactly. Its sense is plain, and it has already been given.
Close to the Sanskrit
[The passage] beginning 'his indeed…' up to '…all this is withdrawn' has a clear meaning. 'Station' should be understood as 'word'. Since, up to the summarising statement 'the anuṣṭubh indeed has eleven padas', every earlier occurrence of the word 'station' is used in the sense of 'word' — because the whole manifold of signifier and signified does not differ from the signifier, as the scripture says, 'a modification is a mere name, its basis being speech'; and because the mass of names, general and particular, does not differ from the name 'anuṣṭubh'; and because the anuṣṭubh is of the nature of a transformation of the primal Brahman, its status as Brahman being established by its expressing form-possessing Brahman; and because Brahman, by virtue of being the cause of the emission and withdrawal [of creation], is thereby the material cause — therefore the anuṣṭubh alone is the material cause. Hence [the passage] beginning 'all this is the anuṣṭubh…' up to '…attains' is, in its clear sense, to be explained accordingly; its meaning has already been stated.