Please share your thoughts and understandings ... I have had my brain working on this for a few days but im left feeling thrilled by my inability to resolve this. It's fun to ponder.
I wanted to start my post with this quote:
There's no real world sense to be made of this: the Absolute, the unconditioned condition, is chimerical, a kind of cognitive perpetual motion machine. So fictionally speaking, the question is what kind of plausibility tales can you cook up. The Mutilated go pure objectivity, sapience absent sentience, while Kellhus goes pure subjectivity, sentience absent sapience. Press in either direction, and you trip into conceptual crash space, which is why all philosophical investigation of the theme remains mired in endless disputation.
http://www.second-apocalypse.com/index.php?topic=2278.msg36429#msg36429"Cû'jara-Cinmoi" is R. Scott Bakker's nickname on this forum.
So, in terms of our world, what Bakker calls the Absolute has no meaning, it's purely a fictional device.
In our world we have a lot of competing worldviews that aren't initially built to be reconciled with each other. On the contrary, they're built to be self-sufficient and all-explanatory. In many ways, all of them are Mechanical Philosophies since they presuppose the existence of one consistent set of rules for the universe. This approach is very effective for getting actual pragmatic results (just look at what science brought us), so the holes of those worldviews are only coming into light when the amount of pragmatic implementations associated with them starts to dwindle.
The worldviews I'm talking about are materialism (including its subcategories like quantum mechanics or "the world is a machine" postulate, which is also referred as predeterminism, like in discussions about possible meanings of Bell's theorem), indeterminism, idealism, and more exotic theories like eternal return (both version, philosophical and Eliade's). This list is by no means exhaustive. What matters for the purposes of your question, though, is the fact that we don't know which of those worldviews are correct - if any - and to what extent. In this sense our reality is undetermined or multiple-choice. We can choose a frame of reference to view it, and then discard it for the sake of another. But nothing is set in stone (yet), however strong are people's beliefs. In addition, many of the current worldviews (even seemingly contradictory ones) very much
can be reconciled, though the value of such reconciliations remains undetermined.
In the universe of TSA (I'll call it "Earwa" from this point on for brevity) everything is different. Bakker constructed Earwa to be a universe of concepts, close to idealism, but not in the mainstream sense. His construct is more arbitrary, exploring philosophical and religious questions he's interested in (like the existence of afterlife, the all-encompassing importance of meaning, the nature of consciousness torn between material and idealistic - the Inside and Outside, - etc.). In this sense all of those concepts objectively exist in Earwa, like the Gods, the Outside, and sorcery.
I think all of this is closely related to your question, since the No-God is one such "absolutized" concept. There is an inherent dichotomy of objective and subjective (or Subject and Object) in Earwa. Essentially, the world is a kind of reconciliation between what is and what's perceived. This reconciliation is fixed in the form of the world of the series we've read. The No-God is supposed to change that, to "shut the world", in essence creating a different reconciliation of Subject and Object. For this purpose, the function of the No-God is an absolutized, world-encompassing concept that's achieved via Tekne (and the means pretty much can be irrelevant here, it's quite unclear). This is what, in my opinion, the Mutilated are talking about when they say that the No-God is the Absolute. Its function is to create a new world when the division of Subject and Object is equal to what the No-God has, which makes it a first self-moving soul. Since this is the goal of the Dunyain, they see it as the Absolute, which is the term they're using for said goal.
Now, whether the No-God works the way the Mutilated think or does something else entirely is a completely different question. I'm of the mind that there is not enough information to make educated guesses, so I don't.
In conclusion, welcome to the Second Apocalypse, Unrepentant Schoolman, and I hope we can if not answer your questions, then at least entertain you!