I think it might be about someone's personal relationship that is stagnating or is about to come to an end. "The last word is the lost word/Why don't you say so?" sounds like two people are having an argument and one person is like let's just admit that this conversation is going nowhere. The second verse sounds like the two people are together because it "works so well," maybe they are just using each other or it is practical, but really the relationship is pretty shallow because they don't give each other trouble or help. The whole situation is kind of ridiculous like a clown. "Our lips are sealed" could mean there's nothing left to say. "These cold wild seas have left us turning" conveys a general feeling of being lost. Similarly, "I sleep light on these shores tonight/I live light..." means not being very settled or not anchoring anywhere because when you sleep light you are ready to get up and go at anytime and the shore is like where you leave from on a journey, it's at the edge of the unknown. "Elevation, don't go to my head" could be trying to remain grounded like Rocas said. I think that might be extra important when you are neither here nor there like what the person in the song may be experiencing.
I think it might be about someone's personal relationship that is stagnating or is about to come to an end. "The last word is the lost word/Why don't you say so?" sounds like two people are having an argument and one person is like let's just admit that this conversation is going nowhere. The second verse sounds like the two people are together because it "works so well," maybe they are just using each other or it is practical, but really the relationship is pretty shallow because they don't give each other trouble or help. The whole situation is kind of ridiculous like a clown. "Our lips are sealed" could mean there's nothing left to say. "These cold wild seas have left us turning" conveys a general feeling of being lost. Similarly, "I sleep light on these shores tonight/I live light..." means not being very settled or not anchoring anywhere because when you sleep light you are ready to get up and go at anytime and the shore is like where you leave from on a journey, it's at the edge of the unknown. "Elevation, don't go to my head" could be trying to remain grounded like Rocas said. I think that might be extra important when you are neither here nor there like what the person in the song may be experiencing.