As posted by Dave Mustaine on the Megadeth forums:
i am damn proud of y'all for being so open about what you think the lyrics are about.
ah, shoot, i am sure that there is some feelings towards the past, towards the band break up, towards the music business, towards the personal life, and an obvious inference towards my life-changing experience in 2002 . . .
but mostly, it is just a promise song for all of us that at no time will there ever NOT be someone who loves you; whether its me and the boys, the other Droogs here, for some - God or god - for me JC - for others "higher power" - and for the rest something else or nothing at all.
it is in a nutshell a love song that you will never be alone - and yes, i knew about the football team in england AND ireland!
so now that we know its a love song - of course the she wolves can have it dedicated to them.
So basically its a song about never walking alone. you can interpret it at will. I always like to hear what people wirte their songs about, but the best thing about some types of songs is that you can make it mean what YOU want, and then it truly becomes a great song.