A bit of French wordplay, using the homophones "l'amour" (love) and "la mort" (death): without referring to the lyric sheet, the listener is uncertain whether the song is saying 'Love is death / but death is love' (cf. Alain Resnais' film [L'Amour à Mort], which translates roughly as Love unto Death).
LD Beghtol writes:
At one point this was going to be an all-male double quartet recorded in the nude at Mother West [recording studio], but we could never find the right mix of voices, so it became a Stephin-Dudley duet. But what fun (and photo ops) we would have had with that!
- [Lyrics and guitar tab] from stephinsongs web site.