A brief introduction; This is my favorite song from the new album, and is one of the Franz songs I can really identify with. Because of that, I've spent a while interpreting it, and revising that, etc. So, here's my interpretation. My first post at SongMeanings too. :D

"You don't know I sing these songs about you You don't know the pseudonyms I assume You don't know the pseudonyms I assume For you" This is a Preface to the rest of the song. It gives us the setting; this is about a guy who is writing songs for a girl. However, he knows (or "assumes") that the object of his affection and subject of his songs has no idea they're about her. This could be a nod back to Alex himself (Lead singer, for those of you who don't know), and a nod to something more personal to him and deeper that reaches past the main plot of the song itself.

"Are you happier now that the gods are dying? Or do you dream of Heston with omniscient beard? You should be happier now with no one to pray to Or would you love to break your knees from begging and praying" This guy is talking to himself in this verse. He should be happier now that the woman that was a huge part of his life, almost akin to a religion, is gone. He should be happy that his destiny is his own...but of course, he's not. He longs for her, and he's trying to figure out a rational reason why.

"Bite hard It's a broken smile breaking their hearts Breaking their mind Bite hard It's a 505 Your engine's alive We ride together Bite hard Bite hard" The 'broken smile' here, is a bit complicated to understand. This is his own faked outward happiness, that he's trying to get to catch on. But the effort to suppress himself is breaking him, and finally he snaps. He gets in his car ('your engine's alive'), and drives, presumably to her, with only her in his mind ('We rid together'). Because he's so distraught, as MichaelSG suggested, he's probably all over the place, and maybe even drunk after all the partying this guy has been doing, or drinking he's done alone trying to get over her unsuccessfully. In a broader sense, this is the first time we hear the song's title. What it essentially means, is that he's acknowledging the fact that he has at least some feelings for her that he doesn't want, and that he just has to 'bite the bullet', not acknowledge them and in fact repress them, and hope they go away. By the end of the song, it's clear that he made the wrong choice.

"I may be lonelier now, but I'm happy alone - honest It ain't lonely alone - what would we talk about anyway? I never resort to kissing your photo - honest I just had to see how the chemicals taste now honey" This, again, is the guy trying to rationalize everything: his feelings of loneliness, and the fact that he 'resorts to kissing her photo'. The 'Honest' bits are particularly revealing, as he's being totally dishonest with himself, he knows it, but he's trying to wish it away by saying otherwise.

"Bite hard It's a broken smile breaking their hearts Breaking their mind Bite hard It's a 505 Your engine's alive We ride together We ride together We die together" This is essentially the same as the last chorus, except with the inclusion of the line 'We die together'. It implies that the guy is expecting to, or does, die due to his distraught state at the wheel. It exemplifies the song's whole message of how repressed feelings are extremely harmful, because not only does he love this girl, but he dies 'for her', after all he's said.

"Bite hard Bite hard Bite hard

I never I never I never No, I never I just had to I just had to I just had to see now honey" This is just continued artistic paraphrasing of the rest of the song, particularly the verses.

"Bite hard It's a broken smile breaking their hearts Breaking their mind Bite hard It's a 505 Your engine's alive We ride together We ride together We die together" This is accordingly the same as the last two choruses, with no changes from the last.

In conclusion, the song is trying to say that biting the bullet never seems to work. Love is unconquerable, even when it is not shared with another, and woe to all those who try and stop it running it's course, including those who just want to stop the pain of a doomed crush, and move on.