Walt Grace's Submarine Test, January 1967 Lyrics

Lyric discussion by Clueless24 

Cover art for Walt Grace's Submarine Test, January 1967 lyrics by John Mayer

I believe that he lives. His wife called him crazy and clearly didn't expect him to make it. Therefore when John says "the call she planned on expecting," he is implying it is the call confirming Walt's death. However, the next line "she accepted the news she never expected" shows that the call did not confirm his death at all, but rather was probably Walt himself.