Some thoughts from my devotions in Ephesians...
What is so interesting to me in this section (only one sentence in the Greek text) is Paul's careful mentioning of each member of the Trinity, and the repetitious use of the phrase, "to the praise".
In verses 3-6, Paul introduces the "God and Father" who has blessed us, and then closes the section by saying that what God has done for us is "to the praise of his glorious grace".
In verses 7-12, he goes on to discuss the redemption we have in "Jesus Christ", and ends the section by declaring that we are "to the praise of his glory".
In verses 13-14, Paul reminds us that we are sealed with the "Holy Spirit", who is the guarantee of our inheritance "to the praise of his glory".
I guess one application would be for us to be more creative in our praise to God. Rather than saying, "God, thank you for this day." (a good start) - be more thoughtful!
How can we praise the Father?
How can we praise Jesus Christ?
How can we praise the Holy Spirit?