All of this is explained succinctly in the model as written up on the Wiki: http://wiki.my-big-toe.com/index.php/In ... _MBT_Model
It is not complete in several senses as explained several times. But it is a 'tighter', more compact layout of the concepts than Tom was able to put into a beginners level book.
Everything is explained in detail there. Yes, the CS is objective in the sense that it is constant, does not change arbitrarily or randomly, and the state at each delta t is directly derivable, if you know the rule set, backwards and forwards delta t by delta t. The concept of meta realities is explained and this is how you get from the objective to the subjective, from fixed functioning like a Cellular Automaton to free will and consciousness. This happens first to create the consciousness of AUO which over 'time' transmutes into AUM. Then AUO invents NPMR type VRs to provide consciousness to each of us as an IUOC individually. Then AUM eventually creates so vastly many NPMRs and also the PMR type VRs where the intensity of interaction and feedback makes for more rapid development, lowering of entropy and improved Quality of Consciousness.