"Then they who feared Hashem spoke to one another"
Rabbi Shimon opens with: "Then they who feared Hashem spoke to one another and Hashem hearkened, and heard it: and a book of remembrance was written before him for those who feared Hashem, and took heed of His name." He tells us that this means that the holy Chariots and armies spoke with one another before God. And when these holy words rise up, the Holy King delights in them and they mount to His head and become a crown. We read that "they who feared Hashem" above means when they repent with love they stand before God. "They who feared Hashem" below means that afterwards they go down to earth, but even then their words retain their shape above. All the words that the righteous on earth bedeck themselves with stay standing before God in the same shape of wickedness turned into merit. And afterwards they are written in the book of remembrance before Him, so they would exist before Him always.
"Took heed of His name" means that those who value the importance of the Torah fix the wisdom of their Master's name in their hearts.