This mala is made from bodhi seeds, the bodhi tree (also know as the Sacred Fig or Ficus religiosa), being a symbol of wisdom, since it was under a Bodhi tree that Gautama Buddha attained enlightenment.
Vajrakilaya known as Vajrakumar is the deity of the magic phurba dagger, a symbol of the sharp point of wisdom fixed immobile on goodness by the power of one pointed concentration.
Lokeshvara is one who refuses to accept Nirvana since he considers such acceptance selfish in view of the ignorance of the great majority of the people who have not yet attained that stage.