Note: While I think it is possible to read between the lines of JWalk's lyrics and glean some insight into TYV's implosion, I also strongly encourage y'all to take my insights with a shaker of salt, as they are all conjecture.
(I also encourage you to discuss in the comments.)
I don't think there's anything here that he hasn't said in interviews, or we couldn't have worked out from what he said in interviews, i.e. that the Panic! split "reverberated" through his (JW's) relationship with Ryan, that he and Ryan were on different pages personally and professionally, etc.
Without further preface, here are the lyrics for a selection of tunes from "New Songs" as presented on Facebook, in order of appearance on the record:
Skipping over #1 (End of the World
) to song #2, ( Side of Me )
which JW has already indicated (on stage) was about the demise of one of his previous bands. At the time he mentioned it, if I remember right, it was supposed to be about the Panic! split. Though I suspect it could apply to TYV as well.
Song #3 is ( Fairytale )
The bolded bits read, to me, reads like either an allusion to either the initial Panic! split, and the related internal struggles, OR to difficulties they had in deciding what to do with TYV after the initial "Fuck you!" "No, fuck YOU!" rage adrenaline from the original split wore off.
I mean, when you have, let us say, started a band to prove a point, and . . . kind of proved it, I guess, in the sense that Take a Vacation!
got reasonably good reviews (I don't know how well it sold, in relation to Pretty. Odd.
) and enough buzz to fuel two national tours, and then it's time for Round Two, and maybe you aren't all THAT angry any more, or whatever . . . idk, to me this just sounds deeply frustrated.
Skipping over #4 (Illusions
to #5 ( Breathe )
which could probably be summarized as RYAN ROSSY I CANNOT DEAL WITH YOU ANYMORE YOU ARE TURNING MY HEAD SIDEWAYS GOODBYE XO JW.
It's followed by #6, ( You'll Be Fine )
which caused me to arch an eyebrow at my computer and wonder if Ryan was perhaps taking the (original) split harder than we thought.
#7 is ( Waiting for a Ghost )
and it's all sort of Eeyore-y "I knew this would happen, I just didn't want to admit it"; the lines I bolded were the ones that thought were kind of sad and also completely ridiculous at the same time.
Jumping over #8 (The Truth
) and #9 (Hidden Love
) there is #10 ( Here for You )
; the bolded verse is the one I thought was most relevant, as a kind of final, bittersweet farewell.