Lyric discussion by Wormsie 

Didn't think that this would be my first lyric interpretation, but whatever...

"Go liquid" could refer to, indeed, having an orgasm. On another level, it could refer to being vulnerable or even allowing yourself to be manipulated. "Go solid" could refer to an erection, and on another level on putting your guard up. The theme of manipulation is supported by "I love to watch it when you mess around with my mind". The singer knows that her words of affection are not truly sincere, but he plays along.

So we clearly have a sexual relationship going on here. In the chorus, the singer is realising that he's ultimately unhappy with the relationship: "Show me an easy way out."

The second verse is about trying to rediscover yourself after such an affair, "forget the love and get back in the line with yourself". Unwisely, he's also leaving the door open for her to come back for more sex: "stay in touch if you're planning to go below", ie. give head. "I love to teach you though you already know" could refer to having more sex, or the singer trying to tell the girl all about herself and her ways, and maybe shows how the manipulation and insencerity is mutual.

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