Lyric discussion by LunaPhantasma 

Cover art for Halloween lyrics by Siouxsie and the Banshees

As you get older, eventually things that once brought you joy now seem insignificant like Halloween in this case. Perhaps what the song's portraying is the transformation of ecstasy to bitterness as you grow older.

I think your take on it is closer to Truth than many others.

Please check out my post on this song: http://connecthook.wordpress.com/2011/10/27/all-hallow-seven/