Obviously someone is ahead, but it isn't enough for him to sign one way or another yet.
I'd say bdixon is right - you're basically even, but I've always taken this kind of a message to mean that you're ahead just slightly (like 52% leaning your way, 48% the other school's)... so if things stayed exactly the same for the rest of recruiting, he'd probably sign with you really late, but it wouldn't take much effort to sway him to the other school.
If it were me I'd put some more effort into recruiting him just to fend off the other school.
Once recruiting is over you could always SM the other coach and ask him if he got a similar message that same cycle - that'd be interesting to see what it said.