1. ... I am putting on the love of the Lord.
2. And His members are with Him, and I am dependent on them; and He loves me.
3. For I should not have known how to love the Lord, if He had not continuously loved me.
4. Who is able to distinguish love, except him who is loved?
5. I love the Beloved and I myself love Him, and where His rest is, there also am
6. And I shall be no stranger, because there is no jealousy with the Lord Most High and Merciful.
7. I have been united to Him, because the lover has found the Beloved, because I love Him that is the Son, I shall become a son.
8. Indeed he who is joined to Him who is immortal, truly shall be immortal.
9. And he who delights in the Life will become living.
10. This is the Spirit of the Lord, which is not false, which teaches the sons of men
to know His ways.
11. Be wise and understanding and awakened.
"Putting on the love of the Lord" generates the imagery of clothing to me. Indeed, I feel "love" is a little play on "glove" (the glove of the Hand of God), and to put on this garment of love, we must shed the garments of hate and similiar emotions.
"His members" could refer to the Angels. If we think of the "glove" analogy, it could refer to his fingers (the Hand of God). Since we know that the Lord is on our head like a Crown, yet not a normal Crown, but a part of ourselves also, we are dependant on Him, for that Love which nourishes and blossoms within is. This love is a mutual act, a symbiosis, the yin and yang of Man and God.
The "Beloved" usually refers to Christ (though can also refer to Sophia, to God, and even John the Beloved). His "rest" could refer to death, to the afterlife, etc., and where he lies, we lie also.
The term "stranger" is used in some Gnostic scripture ("Allogenes") to refer to a Gnostic, one who is a "foreigner" to this world and the people enslaved here to the rule of the Demiurge. However, this Ode shows that we are not estranged from the "True" God like we are to the Demiurge, for God is not a "jealous god"; jealousy is one of the intrinsic characteristics of the Demiurge.
The symbiosis becomes clear - the Lover and the Beloved, both essential aspects, Two as One, united and whole. Love of Christ allows Christhood, and grants that immortality of spirit that we have forgotten.
"Living" is usually used to refer to that which is spiritually risen. "The Living Jesus" would refer to him after the Ressurection, for example. To rejoice in the Life is to awaken from the sleep and death of the physical, to become Awake and Living.
The "Spirit of the Lord" teaches us to "know His way" (attain Gnosis), for he is not "false" - i.e. not the Demiurge. "Son of Man" is a title which was used in reference to Christ. "Sons of Men" refers to us all, Sons as He was Son (that includes females, of course), Christed as he was Christ.
"Be wise and understanding and awakened" Wisdom (Chokmah) and Understanding (Binah), with that which Awakens us (Gnosis), which is Knowledge (Da'ath), those three powers below Kether (the Crown) that is the Lord described in the last Ode.