Gar all your ribbons reel means, literally, make all your ribbons spin/ wheel/ fly about.  I'm thinking that an equivalent American expression might be something like shake your bootie, perhaps?

If we knew where the Old Blind Dogs got their set from, I'd be better placed to help, but they don't seem to be all that conscientious about acknowledging their sources; or perhaps it's just that people who've asked about their recordings here in the past haven't quoted any sleevenotes there may have been.  Did they give any information at all?