Opel

On a distant shore, miles from land Stands the ebony totem in ebony sand A dream in a mist of gray... On a far distant shore...

A totem can be a plant or a symbol of something, in this case a symbol. The symbol is a dream lost in the sands and also out of reach on the shores. 

The pebble that stood alone And driftwood lies half buried Warm shallow waters sweep shells So the cockles shine... Syd Barrett’s old self the him he wants to find is buried in the shore, and being hidden by bright shells.

A bare winding carcass, stark Shimmers as flies scoop up meat, an empty way... Dry tears...

his old self is dead (in Syd’s case probably from the fame) and everyone is pretty much picking apart what’s left of him.

Crisp flax squeaks tall reeds Make a circle of gray in a summer way, around man Stood on ground...

this is basically Syd wondering around the beach trying to find his way to his old self so that he can save it

I’m trying I’m trying to find you! To find you I’m living, I’m giving, To find you, to find you, I’m living, I’m living, I’m trying, I’m giving

He’s trying to find himself and that’s all that matters to himself.

Not sure on this, but it sounds to me like

warm shallow waters sweeps shelves so the cockle's shy

shelves being ridges or levels of sand (?) where cockles live, the cockle being shy because it peaks as the edge of the sea try's to tempt it but refusing to come out for anything but the deep. A world of permanent retreat and meaningless but well meaning people.

And I'm sure it's crisp flax squeaks tall reeds

and definitely stood on ground

All about being beached, obviously

i'm not sure about the meaning, but whenever i hear this song, i always just picture a shy boy on camera, looking uncomfortable, but the camera keeps on filming him while he sits there, trying to compose himself.