Joe, I was in the audience when Cyril made a partial explanation of some of the terms.

'As for their habits, well, talk about Rabbits! They've...'
Rabbits are items pilfered and illicit items manufactured.
'Crusher.' Naval policeman.
'Pussers.' Pursers. i.e. belonging to the navy.

Cyril also sang "made up of ex-tiffies on the dole..." A tiffy is an artificer, an engineer. Cyril was an ex-tiffy.