Mo, are you wishing to discuss the problematic past of the song, or the floating verses in general?

Shortening Bread is an interesting song in terms of history. According to Sigmund Spaeth, in American Mountain Songs, "'Shortenin' Bread' is... distinctly an Afro-American song, yet very few Negroes actually live in the mountains. The mountain poet finds humor in the Negro and sings to him in a kindly vein of amusement, often attributing to the darkey what could as easily be found in the cabin of the mountaineer."

Racist implications of Speath's analysis aside, I've read before about how several mountain songs, Shortening Bread in particular, showed that mountain whites were willing to accept and embrace black culture in a way inland whites often weren't willing to.

I suppose your could take that same argument and apply it to other verses if discussion on those floating verses is what you're going for.

I think the nature of the lyrics is part of why Shortenin Bread is now primarily performed as an instrumental tune, at least in my experience.