My intuitive hit on 11:11 (or in with caplock on: !!:!!) is that it is a symbol for as above, so below; that there is a twinning between the nonphysical and physical worlds, that we are having the revelation now that the worlds aren't separate but mirror each other exactly, in fact, do the same thing in any moment but at different frequencies.
11 as I see it in numerology is the nonphysical version of the 2, which operates in the physical world as the symbol of duality and relationship. 11 connects us to the nonphysical and allows us to know ourselves at higher frequencies, to shift revelations from those worlds into this physical world. It takes us to the extremes of any opposition, exploring the dark and the light.
The two 1s on each side of the imaginary barrier (the colon), to me, represent the parallelism, and thus commonality, between individuals, as 1 is about individuality. On earth we are twins with each other individual (there is brotherhood/sisterhood) and in spirit we are all twins, or part of the collective consciousness. I feel 11:11 is representative of a stage of consciousness on the way to understanding unity.