Something similiar has been happening a lot to me lately, though in my case it is usually from a waking state and just continues into sleep. I'll sometimes listen to myself snooring and yet be fully awake. However many times no dream will form, I am simply aware and fully consious that I am asleep. I will try to make a dream appear, and sometimes it does and I WILD or have an OBE, but other times no dream will appear, and I can't seem to seperate from my body as in an OBE, whether real or a dream is irrelevent to this point. Yet my level of consiousness is perhaps greater than in most of my lucid dreams.

Do you meditate? I do and have been listening to Binaural beats such as BMV Theta brainwaves, and Hemi-Sync Meditation CDs. This has been happening more often since I have been doing this. I believe that meditation and brain entrainment allows your mind to remain consiousness at levels where you are normally asleep.