To me, the language here is important. Both simulation and computation imply (to me) a tool and a user of the tool. Even a broader interpretation of computation as, umm, the efficient transfer of precise information through spacetime in certain shapes (which is easily providable by our understanding of physics today) requires an observer to extract the computation from the otherwise non-semantic system.
It definitely makes sense to think of the universe as a projection of a higher dimension, or a holograph, or however you want to look at it, but that's a far cry from implying a simulation.
EDIT: hologram -> holograph