Hi,Hardly "slightly republican"!! And sorry I don't find it "funny" either. This sort of stuff from both sides does little to help the peace process... but I'm not going to get into a political argument just helping with the song, same as I would for a unionist one......
The words I'll guess to be Newlodge (an area of Belfast), Padraig is probably right it's the Irish spelling of Patrick.
don't know about "Olandy".
slainte
alison