1)
What is the significance of this Pasuk and the following one?
1.
Rashi (in Kedoshim Vayikra, 19:20): They are recited whilst the Malkos are being administered. 1
1
Refer to Vayikra 19:20:4:2.
2)
What kind of fear is this Pasuk discussing?
1.
Mesilas Yesharim (Perek 24): Fear of sin - which is in part akin to awe of Hashem's greatness.