I think it's very straightofrward. A person made a joke that he thought was very funny but which was offensive and in the reactions of the people around him, he becomes more aware of the consequences of actions and words. When he 'dies' and the world starts living, he is accepting (dying to self) that he was the cause of pain, pleeding for forgiveness in the song as it were. He accepts he is a small part of a larger community. I do believe there is a reference to Christ and Christainty in the "I finally died" verse but that the reference isn't that direct, it's the old "wages of sin is death" motif. his hurtful statement (joke) was sinful, he finally gets it and repents.

Anyone buying into this with me?