व्यासाय विष्णुरूपाय व्यासरूपाय विष्णवे ।
नमो वै ब्रह्मनिधये वासिष्ठाय नमोनमः ॥

Salutations to VyAsa who is (really) Vishnu, to Vishnu, who is (really) VyAsa; many salutations to him, the veritable treasure of knowledge of Brahman and the lineal descendant of VasisTha.

Word meanings:
व्यासाय = to the sage Vyasa;
विष्णुरूपाय = to the one who is like Vishnu;
व्यासरूपाय = to the one who is like VyAsa;
विष्णवे = to Vishnu;
नमो = salutation (namaH);
वै = indeed; truly; also used as an expletive, a vocative particle;
showing entreaty or pursuasion; sometimes just a meaningless;
ब्रह्मनिधये = to the one who is a great reservoir of Brahman;
वासिष्ठाय = to the scion of Vasishta;
नमोनमः = repeated salutations;