The Rebbe taught this melody in 5716, on Simchas Torah, one of the most joyous holidays in the Jewish calendar. It was in the wee hours of the morning, following the nightlong traditional dancing with the Torah. The Rebbe used the opportunity to urge all of the assembled to add in their study of chassidic teachings.
He then explained that just as G‑d forgivingly overlooks our faults, going beyond that which is naturally expected of Him, so, too, must we exceed our self-created limits, even in the realm of good, and resolve to be even better tomorrow.
דרכך אלקינו, להאריך אפיך, לרעים ולטובים, והיא תהילתיך. למענך אלוקינו עשה, ולא לנו, ראה עמידתינו, דלים וריקים.(מתוך הסליחות בתפילת ערבית של יום-כיפור)
Your way, our G‑d, is to be forgiving toward the evil and the good; and that is Your praise. [Grant our request] for Your sake, not for ours. See how we stand before You, humble and lacking [in virtue]. (Yom Kippur eve liturgy)