This song is about a man who could be in a loveless marriage (thought the fire had gone out of me) then meets the love of his life (you awoke the sleep of my life from gray into red), the one love that gives his life meaning and he would want to be with (could have held her body my entire life). However, since he is already married and has kids, he decided to stay with them (but I had to get home to the kids and the wife) at the expense of his great love. Of course, sacrificing your great love even for a much worthy cause will make you miserable and live a life with regret (here I am this morning where love had asked for the dance, here within this terminal where I passed on a chance). I guess the song is trying to say that you shouldn't let true love pass you by (lord, i'll never find her though I've truly tried, probably she's found another bus to ride) because you might not have another chance of getting it back.