I agree somewhat with emeryfan on this. I'm not sure if this band has christians in it so it may not be what they are meaning. From my point of view, however, this is talking about how he's scared of the world "want to have the chance to flee the scene and to find peace" and when he says he has one foot in the present day and one foot in the grave I take it to mean that he has one foot in this life and one foot in the next life in heaven where there is the peace he is seeking. Then he talks about grace that gives us a second chance and I believe he is talking about God's grace.
I agree somewhat with emeryfan on this. I'm not sure if this band has christians in it so it may not be what they are meaning. From my point of view, however, this is talking about how he's scared of the world "want to have the chance to flee the scene and to find peace" and when he says he has one foot in the present day and one foot in the grave I take it to mean that he has one foot in this life and one foot in the next life in heaven where there is the peace he is seeking. Then he talks about grace that gives us a second chance and I believe he is talking about God's grace.