Hodur is the Norse God of war. He is known the blind god, because he is a God who lives in the midst of action, in his case, in the midst of battle. This means that he has an over-abundance of single-mindedness, and almost no self-awareness. His abundance of single-mindedness means that he can excel at the thing that he does (in his case fighting), but has no self-awareness thus has no ability to change what he can excel at, or even change what he does. He is so dedicated to doing one thing that he is blind to everything else. This includes other Gods.
Hodur's blindness to other God's is one of the main contributing factors to the Norse end-times scenario called Ragnarok ('the Twilight of the Gods'). Hodur ends up being exploited by Loki (aka the Trickster) into killing his brother and a God whom everyone loves - Baldur. One day Loki redirects Hodurs war-bow to point at Hodur, and replaces the arrow (which is harmless to Baldur) with mistletoe (which is lethal to Baldur), and gets Hodur to fire the mistletoe at Baldur, killing him. This act, plus others, which are also instigated by Loki, lead to the end of the Cosmos as we know it.
But there is a happy ending to this tale. Following Ragnarok and the destruction of the Cosmos, some of the Gods remain, along with a pair of humans who have taken refuge somewhere, the Gods rebuild the Cosmos and establish their own order, and two of the Gods whom rule in this new Cosmos are Hodur and Baldur. Thus despite the fact that one brother killed the other, they make peace and end up living in harmony.
The story of the blind God Hodur killing Baldur is one that has an analog in real life. The analog being that young soldiers (who are predominantly young men who are blind to the ways of the world) are often exploited by other people (politicians, officers etc) whose intentions are quite often malevolent.
Finally, some of the lyrics in the song itself describe a few actions that some Odinists use when they wish to induce a Berserker state of mind: biting the shield, hitting themselves etc. These actions are designed to bring on a physical and violent reaction in the mind of the Berserker, and cause him to become more single-minded & focused, like Hodur.
I am fight.
I am rage.
I invite everyone,
to join me Hodur.
To feel the burn,
feel the speed,
feel the action,
feel the engrossing.
Fight with skin as armour,
killing is all I know.
Exit light.
Enter fright.
Hear me roar.
I am Hodur God of War.
Beat me up.
Beat me up.
Get my blood right up.
'till I'm pumped as fuck.
Bite my shield,
strike my chest,
and then turn to my left,
and scream at the Rekkr!
Yeah!
Fight with skin as armour,
killing is all I know.
Exit light.
Enter fright.
Hear me roar.
I am Hodur God of War.
Yeah-heh.
Now I whirl around in a fit,
(Now I whirl around in a fit,)
of bleeding madness and have the need,
(of bleeding madness and have the need,)
to taste the blood of enemies,
(to taste the blood of enemies,)
and hear them shriek in terror.
(and hear them shriek in terror.)
Hear me speak: I am war God,
and I completely scare the fuck,
out of verminous enemy,
and the filthy race traitors.
Exit light.
Enter fright.
Hear me roar.
Exit light.
Enter fright.
Hear me roar.
I am Hodur God of War.
Yeah.
War.
Yeah yeah!
Yo-oh.
I am Hodur God of War.
(Fate is in my hands).
I am Hodur God of War.
(Fate is in my hands).
I am Hodur God of War.
(Fate is in my hands).
I am Hodur God of War.
(Fate is in my hands).
[End of lyrics.]