Paul is vague about the 4th perceptual position and even says on the cassette that its "hard to describe" without going much further.
For me, this perceptual position is like looking through a super wide angle lens or a crystal ball in which you see everything and gain an impression of the overall situation, while being detached emtionaly from it.
When I've tried this, it involved a lot of visualization and relaxation. But the more I practise, the better I seem to get.
Just pretend that you're sitting inside a crystal ball that is hovering in a serene, peaceful place. Feel a sense of peacefulness. Then change that scene to the issue your working on and look at what is hapening while keeping that sense of peacefulness. Visualize yourself being able to see all around you inside your crystal ball. It'll probably help to see yourself hover over everybody and everything while visualizing your issue.
Cheers! 
