I KNOW your DEEDS,
Again those eyes penetrate down into the hearts of every person (and even into plants/animals/solar systems/galaxies and yes, the whole universe)! Everything is known by HIM!
that you are neither COLD nor HOT
This may be an indirect reference to the water coming to Laodicea from 6 miles away; but most likely this refers to their lack of zeal (Romans 12:9-13). (See also Revelation 3:19).
I would that you were COLD or HOT.
This is your spiritual temperature not your "SAVED" or "UNSAVED" condition.
COLD ——> "Saved" but not at all committed to live the Christ-centered, Spirit-filled life.
HOT ——> Totally commited to live for Jesus (or becoming an "overcomer" (Revelation 21:5-8))!