This song is part of the album The Christmas Attic, part of Christmas Trilogy, a rock opera. The opera tells the story of a little child exploring the attic of an old house at Christmas' Eve.

This night we pray our lives will show this dream he had
Each child still knows
This night we pray our lives will show this dream he had
Each child still knows

This night we pray (we are...)
Our lives, will show  (...waiting)
This dream, he had (we have...)
Each child still knows (...not forgotten)

This night we pray (we are...)
Our lives, will show  (...waiting)
This dream, he had (we have...)
Each child still knows (...not forgotten)


- (on this night, on this night, on this very Christmas night x4)
This night we pray (we are...)
Our lives, will show  (...waiting)
This dream, he had (we have...)
Each child still knows (...not forgotten)

- (on this night, on this night, on this very Christmas night x4)
This night we pray (we are...)
Our lives, will show  (...waiting)
This dream, he had (we have...)
Each child still knows (...not forgotten)

The opera story begins like this:

In this room where shadows live
And ghost that fail learn time forgives
Welcome friends please stay a while
Our story starts with one small child
Who spend her nights in attics dark
Where dreams are stored like sleeping hearts

The lyrics of this song make sense inside the story told in the whole opera, so if you don't know this opera (and I don't), it is not possible to know exactly what this song is saying. But it sounds beautiful anyway.