Lyric discussion by lennox 

Cover art for Red Hands lyrics by Walk Off The Earth

I think because of how it is sung and the lyrics show a graduated change in acceptance of guilt, that it is about a guy who got close to a girl then pulled away and lied about how he felt about her. He now feels guilty for breaking her heart and feels like he messed up and wants to change the situation and go back to how things were. It is an emotionally charged situation. Both are unsure of what the other wants, and dont want to hurt each other or get hurt.

My Interpretation

That's how I interpreted it as well, nicely put.