This looks like one version of many version of "hologram" view of the universe.
At a physics level you can sort of explain your way around problems although gravity you will need explain how and why it appears? However most hologram world theory I have seen have real problems with QM.
1.) Why does QM exist and exactly what is happening when I put something in your world into superposition.
2.) QM explicitly proves there is no local reality it is represented bells inequality (here is one version of many of the proof:
http://www.science20.com/alpha_meme/disproving_local_realism-79216) ... or you can even try the crackpot randii challenge (
http://www.science20.com/alpha_meme/official_quantum_randi_challenge-80168). Why do no two observers have the same realism if this is a single unified illusion?
Start with those two when you answer those we will move on to some of the harder ones.
