They're singing about a guy that's after them but they don't think that they would be a good match. They use a clever play on words, letters, er numbers as they say XTC which is a nickname for ecstacy so what they're saying is that he's studious and knows all about his literature (ABC) and math (123) but not about how to have a good time (XTC/drugs). Not that I'm promoting drugs, lol!! Then again I'm not sure whether they're thinking he might be a good influence on them..? Basically, I think they are pondering over the guy in the song.
My interpretation:
They're singing about a guy that's after them but they don't think that they would be a good match. They use a clever play on words, letters, er numbers as they say XTC which is a nickname for ecstacy so what they're saying is that he's studious and knows all about his literature (ABC) and math (123) but not about how to have a good time (XTC/drugs). Not that I'm promoting drugs, lol!! Then again I'm not sure whether they're thinking he might be a good influence on them..? Basically, I think they are pondering over the guy in the song.