*Comes backing up Dan*
Aye, string theory has recently been changed to super-string theory, which is basically what Dan was saying about dimensions being contained in other objects. To clear up a few misconceptions; it is not really the eleventh dimension that 'holds' the other universes, it just acts as a sort of hub from which the einstienian bridge can be crossed.
M theory is, to put it simply, that every decision must be made in some universe and thus "creates" universes in order to accomplish this. I, for one, do not really think this is all too possible nor likely, but there is currently no proof one way or the other so really anyone could be right or wrong.