Our song it skips, on little silver discs

from Arcade Fire (Ft. David Bowie) – Reflektor Lyrics on Rap Genius

Meaning

The use of “song” here could be understood the same way as on Neighborhood #1 (Tunnels)– as a metaphor for a way of life. The “little silver disc” is obviously a CD, which stores music.

Sometimes songs played on discs (be they CDs or vinyl records) will accidentally “skip”– this was deliberately recreated by Bowie on “Chant Of The Ever Circling Skeletal Family”. This is a distortion of the “true” song, much like the distortions caused by a reflection.
http://www.youtube.com/watch?v=Jj12y3UFb80

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