[Advaita-l] Shloka Chapter 1 (padyaBAga) Shloka 1

[sreenivasa murthy]

 Dear Readers,
Sri Shankara writes in Upadeshasahasri;
       caitanyaM sarvagaM sarvaM sarvaBUtaguhASayam |       yat sarva viShayAtItaM tasmai sarvavidE namaH ||        [upadeshasahasri ; padyaBAga; Chapter 1 SlOka 1]
I have a question to ask the scholars of this group; Is what has been stated in the above SlOka a universal truth and a fact which can be verified by one and all irrespective of caste ,creed or religion? If so, how can it be verified? Does it talk about an existing vastu (BUtavastu) and if so, what is that vastu?With respectful pranams, Sreenivasa Murthy