The hypnogogia you have is so cool. Mine used to be like cartoon images flashing across a screen, but since doing DMT it's more fractal-like. I only get it on the way into sleep, never on the way out. I keep wanting to watch the fractals turn into a dream, but so far I always lose consciousness first.
In a way, reality is made up of 1's and 0's. Everything is matter (1) and space (0) in infinite combinations. Maybe you're catching a glimpse of the true nature of reality when you're in that state between wakefulness and dreams.
Also, it's really f*ing terrifying that your dream character can just touch your heart and make it stop.