Brian, i think your translation is right on. I think that probably holds true for a lot of WAWs or almost WAWs.
I agree with Ian on telling her though. She told you specifically about that song because she wanted you to know. I think if you don't let her know you figured it out, that she'll wonder if you really got it. She didn't just toss it out there lightly, it was her way of finding the words she obviously couldn't say to you. Sending her a card or writing a note will let her know that you understand and will be there when she needs you.
you are doing good!!
ann
If i can't fall in love... I'd like to fall in chocolate! ~ Author Unknown