It seems to be that beyond the esoteric and "woo-woo" as some might call it, there is an underlying truth to the 11:11 phenomenon on a very material level that very much has to do with a global conscious awareness. This is where all the spirituality, "master number", and even the whole 2012 alignment starts to factor in.
I wrote a "thing" of my own about it in the Future Talk section in a little article I call;
A Beautiful Future: But 1st, Waves of WTF @ 11:11
It has more to do with just the thought you might have had immediately before seeing an "11", but that will help to sync you up in a sense. It appears to have more to do with aligning one's self with the energetic centering (or syncing) of the world with the solar system with the galaxy. I think the simple fact we come together and discuss this (believer or skeptic) shows an intention to communicate(and therefore share) with others in the world.