I think this song is about two dying friends. Each one only has a short time to live and they decide to spend the last days of their lives together - watching the flowers grow, wandering around the city, just basically appreciating everything for what it is:
sit we'll take our time watching the flowers grow all the friends we've known say goodbye
I think they both have their regrets - letting life pass them by:
and you did you suffer much did you close your eyes just to see the night rush on by
And I believe the parts containing "hope that we don't let you down again" regard to the family and friends of the two friends which have died. They are at their funerals and regret all of the seemingly awful, but trivial, things they've done to them:
gathered all around you hope that we don't let you down again i said i'm so glad to be here does it mean a thing
That's just my take on the song.
I dunno why but this song just screams out Mont-Royal in Montreal whenever I heard it. To me, this song is about living in a city where someone planned to spend the reste of his life with his lover but loses (or almost loses) his lover in a tragic way. There is a strong element of denial in this song. At the begining of the song he's wondering around the town dazed and confused and he needs his dead (or comatose/dying) lover to help he see all the beauty of the city that they shared. (save me from this, wandered around the town, all the thousand things i might miss) And then he starts to ask if the dead (or dying) suffers much and see the world going on without her/him. "did you close your eyes, just to see the night, rush us by". Then he talks about their friends gathering around them saying that they are glad to be there. (sounds like a funeral to me)
Throughout the song he keeps on promising to his lover that he would never let she/him down again, for me this is the saddest part of the song. I assume that he's still in great denial. "if only i could just believe a thing."
This song is on the second album Moist had written (and possibly inspired) in Montreal.