Mientras La Veo Soñar

To me, this song is about laying down with the girl you love for a sensual, dreamy night.

The imagery is beautiful, and seems to detail the hazy conscious/unconscious visions that two lovers are having.

I think it could also be only a woman sleeping, dreaming about the man she desires. Maybe he's watching over her as she sleeps.

Also, "running in water" "drowning in fire"

cool verb switch.