Highlight of the chanting last night for me was when the few vocal Saints fans were chanting "who's the w*nker in black?" at a Brighton fan that had been winding them up and they got a "who's the wanker in red?" chant back at them. Shut them up pretty sharpish.
Seems some people are over thinking this a bit too much. Basically some really drunk fans in the away end think it's funny to start a certain chant so do so. That's it. I doubt they are sober enough to think of the context.