Sorry to be cynical. In many arts it means you have paid for membership to a club for a few years but, otherwise, you couldn't knock your way out of a papr bag........
But that does not seem to be true in BJJ. Here it means an attainment of a level not many could aspire to. A level at which you will have earned the respect and awe of fellow pratitioners. A level of responsibility as you have becoma an Embassador for the whole art, where everything you do and say, on and off the mat, will refelct on the art and all of it's practitioners.
Prattle on like that for a bit with rousing music in the background and you will do fine. Good luck -