Ahh..not so, grasshoppa! It actually means, I believe I'm correct... is that "The spirit in me acknowleges & salutes the spirit in you, and may you be at peace."
So it could be used as a greeting, or as a general salute of respect.
At least that is what I glean from being around yoga people and taking yoga classes for the last 7 years or so.
Merry Happy New Christmas Year!
PEACE