Right, it is a possible translation and for some the preferred one.
Yet there is a slight difference in meaning. Just imagine when you would answer "Yes, we have love inside us." compared to "Yes, we have love inside all of us.".
Addressing a group of people as "you all" implies that every single individual is known and they all need to think about and answer this question to provide the entire answer. Just addressing them as "you" sounds more general to me. And this can also be asked to an unspecific group or people in general.
As long as I am learning Hebrew I prefer to stick to a literal translation. And just know about the English. It is a compromise. I know.
Greetings from Austin, Texas.
There are two expressions at play here. One is y'all, which is used routinely by roughly 100 million native English speakers in the southern USA. The other is you all, which is used by many northerners and non-Americans who recognize the utility of having a word for "you plural", but who can't bring themselves to say y'all because it sounds too southern. (There was a time when the South was a backwards part of the country with many poorly educated or flat-out illiterate residents, and the stereotype of southerners as a bunch of dumb hicks has stuck.)
But when a word is used by more native English speakers than the entire population of the UK, it's genuine English and should not be deprecated! For that reason, y'all (and, I believe, you all) is accepted as you plural in DL Spanish and DL Italian, and I think in DL French and German, too. Unfortunately, the moderators of DL Hebrew have bought into the idea that American English is a dialect to be grudgingly tolerated, and that southern American English is substandard and should not be tolerated. (sigh)