The song in that vid is called "Divine Moments of Truth", which is based off the acronym of the drug DMT and the lyrics literally go something like this:
Doo bee doo be do DMT DEE EMMM TEE doo bee doo DMT circus mixed up something somethign something
Haha, I don't think those particular lyrics are supposed to mean anything. They're more for atmosphere and fitting the mood of the song, which is to represent the feeling of tripping on DMT. There are many other Shpongle tunes with lyrics in many different languages that have meaning though, and occasionally some samples of people talking, usually Terrence McKenna. Shpongle is obviously very influenced by the psychedelic experience and I believe that the music takes on a whole new perspective when you hear it on those kinds of drugs. The good thing is that it's amazing either way.
It's hard to play just one song for someone that's never heard Shpongle and say "this is what they sound like" because every album is different and every song on every album is different from the last.
I hear something new every time I listen to Shpongle and my mind is usually blown every time. It's almost unfathomable to me how perfect this music is in every single way. I've never heard anything more creative, positively weird and trippy and uplifting, energetic and just plain different. I don't really expect people (especially metal fans) to like Shpongle because of how unique and different (and trance-like) it is, but it seems like everyone I introduce to them in person at least appreciates it's greatness, if they don't instantly love it like I did.
It warms my heart to see this thread come up out of nowhere. I believe Simon Posford is one of the greatest, most creative and unique musicians in the world today.