I don't know about the other lyrics to this song, but the phrase "Steel that sleeps the eye" must be a reference to guitar player Pete Adams. He was the original second guitarist before he left to fight in Iraq. A grenade or a mortar or something blew up net to him and some shrapnel hit him in the eye, so he has a fake one now. He came back and joined the band again right before they wrote Blue Record. I can only assume that the Steel that Sleeps the Eye" is some sort of reference to that.
I don't know about the other lyrics to this song, but the phrase "Steel that sleeps the eye" must be a reference to guitar player Pete Adams. He was the original second guitarist before he left to fight in Iraq. A grenade or a mortar or something blew up net to him and some shrapnel hit him in the eye, so he has a fake one now. He came back and joined the band again right before they wrote Blue Record. I can only assume that the Steel that Sleeps the Eye" is some sort of reference to that.