Grace, not Works

[masayuki]

https://www.youtube.com/watch?v=5hi55koGGZA

My understanding:
In the example of the cow sacrifice, the works is being "oh woe is me, this animal had to die for my sins, I feel bad for sinning and that this cow had to die" Terry says this is how the Catholics want you to feel about sin. Accepting the grace of God means recognizing that salvation is a free gift from God and cannot be earned through good works, so accept it! Hell yeah man accept that free gift and be thankful for it. Spend your energy bringing glory to god and being a good person, don't waste it on feeling sorry for yourself or feeling bad that you've sinned.

[kjv]

Your understanding seems good, Terry talks more about "Grace, not Works" in other livestreams of his, here are a few links I found
https://www.youtube.com/watch?v=GJsdjU9jNS4
https://www.youtube.com/watch?v=mSIIudIh_2Y
Basically yes, you accept gods Grace without remorse, pity, or effort. Accept grace, well, gracefully.