The 'buddy' seems to be a very sneaky, dishonest friend of the main character in this song. He's waiting for the "light to change" and the "rain to pass" in the guy's relationship so that he can swoop in. That he "never looks till the lights are low" means that he always claims that he doesn't do or say a nasty thing intentionally, and sort of tries to sabotage his friend's relationship without him knowing. Of course, this is all from the narrator's perspective, so even if my assessment is correct, the situation might be a different one, since it seems to be very subtle and subdued.
The 'buddy' seems to be a very sneaky, dishonest friend of the main character in this song. He's waiting for the "light to change" and the "rain to pass" in the guy's relationship so that he can swoop in. That he "never looks till the lights are low" means that he always claims that he doesn't do or say a nasty thing intentionally, and sort of tries to sabotage his friend's relationship without him knowing. Of course, this is all from the narrator's perspective, so even if my assessment is correct, the situation might be a different one, since it seems to be very subtle and subdued.