While you're floating, you don't feel like you're actively processing everything that's going on around you as you do in a normal environment where all senses are available to you. While floating, it feels like you're spectating your mind as it processes things.
So when you shut off all your senses and let go, you enter this observation mode where information is being processed but it doesn't feel like you are doing it. It seems like the same thing is happening while we sleep only we're not as lucid.
I'm interested to see if others have had similar experiences.