IMO, the first two verses are quite literal - about escaping, listening to music and not letting the world get to you.
I actually think the song relates more to the world today however. "Monday morning seems another life" refers to the 9-5 grind. Because of the global recession, people have said that the next generation will suffer due to, what we call in the UK, the "baby boomers" (or the previous generation) and their frivolous spending. In England, tution fees have tripled over the last year denying a lot of people access to higher education. More people are also unemployed than in any point in our history. So I think Coldplay are saying that they'd like some continuity rather than see "another generation drop". Being "In the black" also means being in credit (as opposed to being in the "red", or debt) - so they're saying maybe they have money or maybe they're on their"knees" or maybe they're somewhere in between that delicate balance (i.e. trapeezes), just struggling to get by (as many people are!). Other than that, I agree that the "siren is a symphony" and "every teardrop is a waterfall" refers to the often beautiful nature of struggle and pain.
Obviously Coldplay are multimillionaires, but if this was the meaning it would be quite topical. Just my two cents anyway!