English translations:

I open my heart to the power of Grace

That lives in us as goodness

 That never is absent and radiates peace

 And lights the way to transformation

 Om

The above translation is from my Anusara yoga teacher, Denise Benitez.  Her words are chosen to reflect a general sentiment of the actual Sanskrit words and to rhyme together for singing.  Below I include a more literal translation:

I bow to the presence of God within

Our true and highest teacher

That lives in and around us as

Being, consciousness and bliss.

 It is ever-present and radiates peace

 Lighting the way to transformation .

 Om