I'd say that "O" is "or" and not "O", it's a sort of curse if they don't comply with the request.

I lay these words before you
Carve them in your heart
Staying in your home, walking through the streets
Lying down*, waking up
Repeat them to your children
Or may your house destroy itself,
May sickness impede (or halt) you,
May your descendants turn their faces from you.

* While English speaking people say "I'm going to bed", Italian, Spanish, French... speaking people can also say "Vado a coricarmi" / "Voy a acostarme" / "Je vais me coucher" literaly "I'm going to lie myself down" . You could also translate that as "Every night and every morning" but it's more abstract