It may make sense mathematically and may even apply in some aspects, but I don't believe it goes beyond that. Even if time is the fourth dimension, it is not one that we can navigate freely, so it doesn't qualify as a dimension as we know the meaning of the word. The fourth dimension is spirituality. Basically God and spirits are capable of roaming about the fourth dimension and can pass through our universe. Try not to picture the the fourth dimension, try only to understand it.
Spirits are four dimensional creatures and therefore are see-through and can pass through walls.
The soul is capable of coexisting simultaneously with the body because the the soul is actually in a 3-d space parrallel to the one we know of. Let's say for instance there are 2-d people running around on the plane in picture 1. There is a square with money on the interior of it. As far as the 2-d folk know, no one can get the money without breaking the walls. Try to make an analogy between that and our world.