The way I heard the story is: a man witnessed a standoff in an indian tribe and overheard the words "Iko","chokma", "unday", "fina", "ane" or something. The man(writer of Iko) wrote them as he thought they would be written. So it may not mean john! The translation I was told is something like:

Talking 'bout hey now(hey now) hey now(hey now)
Listen up in the back
It's very nice to be back
It's been a very good year

If I were to make this rhyme:

Talking 'bout.....hey now,
Listen up in the rear!
It's very nice to be back here,
It's been a really good year!