This conversation reminds me of my childhood. My father was an English teacher with a Doctorate in Education. There were times when I left a note on the kitchen table to let my Dad know that I'd gone out and that I'd be home later. He would see the note after I'd left the house, and he'd actually check it over for spelling mistakes. He'd make corrections with his red pen, put a grade on my note, and tell me to rewrite it.
The word "Fades" would be grammatically correct in the context of this Into Eternity song. However, songs are poetry set in motion; and poetry tends to break the rules of proper grammar. I'd be inclined to cut the band some slack.