Bleed

I think this song is about somebody who's coming to the realization that they passed up the opportunity to tell somebody how much they loved them and now it's too late. In the song it's almost as if he's writing the person a letter because it's too late to verbally tell them his feelings. The lyrics "I'm frozen with this fear that you may disappear before I've given you the truth", to me, say that he understands his chances to tell somebody how he felt are gone, but he's giving it one more shot by writing her a letter before she's long gone.

Additionally, the lyrics:

"And it's all here in Black and white and red For all the times Those words were never said"

Sound like he's putting so much thought and emotion into the paper that he's writing out everything he has always wanted to say, and was too afraid to say. The "black and white" represent his writing on the paper, and "red" could be a metaphor for signing the paper in his blood to show how he truly feels for the person.

In short, I think this song is just about taking a chance at letting someone know how much you care about them when all hope seems lost; even if you can't physically see them, all chances of making something between the two people aren't lost.. give it a shot, because you never know.