The text as a whole is an apocalyptic text. It tells a narrative of two dueling entities, Good and Evil, and of the eventual triumph of Good. It is written as a hopeful story that is meant to encourage faithful Christians. Much of the narrative is told using symbolism and these symbols can often be understood through other scripture. (See 1 Nephi 13-14 for reference to the purpose of Revelation and what is contained in the text.)
These verses are split up into seven sections. John’s purpose is to address the seven churches in the Asia province of Rome, however what I see here is a letter seven different types of people. Which type are you and what blessings and teachings does the Lord have John tell you specifically?
Revelation 2: 1-7
A message to those who have mostly kept the faith but retain doubts. While you have been patient and cast away false teachings you are not diligent in keeping the commandments of God. These are you who were once strong in the faith, but have since wavered in your commitment, though you still believe.
Revelation 2: 8-11
This is a message to those who are faithful, but are suffering because of the actions of deceitful false believers or have come upon hard times from other means. The Lord says to be wary of the false believers and commends your patience. Also, he says to continue to be strong in your faith, you will see trials that test you even up to death. Be vigilant because Christ is on your side, and He has conquered death.
Revelation 2: 12-17
This is a message to those who live in the world, but are trying to remain faithful. The Lord sees your attempts to follow him, but he also sees your willingness to follow false teachings that sound good, but are not of God. He commands that you perk your ears to hear the words of the Spirit. And then in a general message to all who do receive the spirit the Lord says, those who do will receive a blessing from Christ (represented by a white stone, or a Urim and Thummim, which is a Hebrew term that means Lights and Perfections). The stone will provide believers with a new name. The new name is symbolic of many things, primarily--I think--symbolic of adoption by Christ into the covenant, or marriage of Christ to the Bride of the Church (when a wife marries her husband, she takes on his name, in the same manner we take on the name of Christ when we are baptized and also receive our endowment). See Mosiah 5.
Revelation 2: 18-29
This is a message to those who have continuously grown in the faith, but you are being held back by a grievous sin. The Lord says to flee from sexual sin and do not let crafty false prophets or prophetesses lead you to destruction through false teachings regarding sexual impropriety. Those who hold to what is taught are blessed.
Revelation 3: 1-6
A warning to those who have cast away Christ and his teachings. There is good in you yet, but if you do not heed the good that remains in you, the Lord will come against you as a thief in the night and you will not be prepared.
Revelation 3: 7-13
A blessing is given to those who are righteous and strong in the faith. As you remain strong you will conquer the doubts within you, and your doubts bow down before you. You will be saved from the evils of the world as you let Christ give you power to believe..
Revelation 3: 14-22
A message to the fence sitters, those who refuse to take a side with God or Satan. You attribute your works to yourself and nothing else. You are prideful and taken up in your easy lives, and so you take no risk in the fight for God. You will be spit out and are truly poor, pitiful, and disgraced. The Lord loves you and you know this because he chastises you. He counsels you to buy His gold, buy His clothes, and buy his salve, so that you will be rich, clothed from your shame, and cleaned so that you may see. Christ is at the door, knocking, waiting for you to choose His side and be vigilant in your fight for God.
Chapter 3 is the end of the messages to the churches and chapter 4 marks the beginning of what is the meat of the Revelation.
Revelation 4: 1-11
God is the one sitting on the throne. The number 24 can symbolize the representatives of the twelve tribes of Israel and the 12 apostles of Christ. They are also representative of the faithful of God from his churches. (Joshua 3:12 and D&C 77:5) Read D&C 77:1-5 to get an understanding of this chapter and what each symbol represents.
Revelation 5: 1-14
Read D&C 77:6-7. The book in the hand of God is the mysteries of the God, it is the story of Earth and its periods. The story told in this section is of Christ being the one who reveals this story to us. We are given the mysteries of God through Christ and He is the only one with the power to show us the mysteries of God.