I have another theory, Iargwaith. If you take the whole saying of which you quoted the first words it seems that Eä is the planet core.
Quote:
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'Therefore I say: Eä! Let these things Be! And I will send forth into the Void the Flame Imperishable, and it shall be at the heart of the World, and the World shall Be; and those of you who will may go down into it.'
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Therefore I think that Eä is the Flame Imperishable at the heart of the World. And therefore letting the ideas and imagines of the Valar Be. Holding the World together at the planet core.
The World is called Arda, and therefore they are two different things, but they have alot to do with eachother. I think Arda is the World, and Eä is the Core.
Eä holds Arda together, being it's heart.
greetings,
lathspell