I can offer how I see things, and maybe there's something in that which resonates. I see the manifest world as an expression of the Divine. But that manifest world is both God manifesting, as well as how it manifests. In other words, a rock is a rock. But that rock is God manifested. The rock, in itself is not God, but it is not separate from God, nor God separate from it.
Everything that exists, only has existence because of God. A line drawn on a piece of paper is not the paper, but it is not separate from the paper. It only exists because it is drawn on the paper. The paper is integral to its being. And the paper, with the line drawn on it, is not separate from the drawing.
Now to make that spookier, that line drawn, is actually the paper itself manifesting the unmanifest potentials within itself, into form. Now that form, is no longer formless, but form manifest from formlessness. So we have is that form is form is form. But form is only form by virtue of the formless upon which it appears. Another way to say this, is music is not notes. It notes played against Silence.
That Silence, both transcends the music, and is fully part of it. Panentheism is like hearing both the notes and the silence within them as equal realities, and not just paying attention to the notes alone. It's nonduality, in the true sense of the word. It sees God in everything, including our discussion, and as before and beyond it all.