Hi, Henry - the original version was purely religious. The John Tams verse and the additional verse sung by Mel Barratt certainly give a Remembrance Day "twist" to the song, but I don't think it's limited to any particular topic. It's a song that is easily adapted.
-Joe-
Here's a performance of the Tams/Brough version, sung by Nicole Murray:https://www.youtube.com/watch?v=ec4r1C7HvkM
Murray's notes:Only Remembered, the classic hymn by Scotsman Ira Sankey, was used in the stage show War Horse, with an arrangement and slightly recrafted words by John Tams and H. Brough.
www.nicolemurray.com.auI learned this song when my husband (and Cloudstreet's lead tenor) John Thompson played the role of Songman in the Australian production of War Horse. My choirs have enjoyed it ever since, and Remembrance Day seems like a good day to share it.