Only a few lines carry the whole song, and almost all of it is addressed to one name. "Jesus, Jesus" alternates with titles, "Holy and anointed one," "Risen and exalted one," so the opening reads as a spoken litany before any melody of petition begins.
Then come three comparisons, each tied to a bodily sense. His name is "like honey on my lips," his Spirit is "like water to my soul," and his word is "a lamp unto my feet." Taste, thirst and sight give a plain way to say that devotion feels like nourishment and direction. The lamp image comes straight from Psalm 119:105, and the honey recalls Psalm 119:103, where God's promises are sweeter than honey to the mouth.
The resolution is just as unadorned: "Jesus, I love You, I love You," repeated until it becomes the point. For a congregation, the repetition leaves room to sing the words slowly and mean them, without needing to learn anything new.