भयेष्वपि even in the midst of fear, निर्भयः fearless, त्वम् you, दृढम् certainly, अवलिप्तः असि you are haughty, ततः then, मृत्युवश्यः under the grip of death, वाच्यावाच्यम् what to speak and what not to speak, न बुध्यसे not knowing.

You are very haughty. When there is every cause of fear you pretend fearlessness. Being in the grip of death you do not know what to speak and what not to speak.