It didn't even occur to me to try to read the song in any but the most literal sense. Your explanation is very compelling!
The only thing that detracts from it is the relative cheerfulness of the song (especially the keyboard/guitar duet that starts at about the 2m30s mark) -- although who knows, it could very well represent euphoria associated with the prospect of imminent liberation?
Thank you for this! Glad you like Strato; I love the way Event Horizon shifts to Elysium, a song I listened to three times a week for 4 months on repeat on my 20-minute bus commute back when I was in uni.