You're right. I've already submitted the correction.
For future reference, on the same line as the 'Bookmark' bar, there is the option to 'correct lyrics'. Just click on it and the form to submit corrected lyrics will appear.
As for the song itself, I'm still trying to figure out the meaning. I just got it a few hours ago from itunes promotion of 10 free singles and fell in love with it at the first hearing.