STUCK IN MY SEAT= If you are stuck you can't move because you are trapped in something, in this case, a seat. Yes, a seat. You have never been stuck in a seat before? Well you should try, even if just for a change. Ok, ok, now serious, if you're stuck in your seat you can't move, you can't get up and go anywhere because you are paralyzed by fear or shock or something. This guy wants to get up and ask her to dance with him, but he can't, he's too shy and feels paralyzed, so he's stuck in his seat.

NO WAY= An emphatic form to say "No", or "of course not".

GUYS= (colloquial American English) boys, men.

KNOW THE GAME TO PLAY= If you know the game to play, you know what to do in this situation to get what you want. In this context, the game is picking up girls, flirting. So the song says that "everybody knows how to flirt with a girl (but me!)".

SAY= We use this word in a colloquial way simply to call people's attention to what we're going to say next, so in fact, it means the same as "listen".

LOOK ON THE FLOOR= I look down or I look at the dance floor.

IS SPINNING ROUND= If something is spinning round is turning round, so if I look on the floor and everything is spinning round, it means either that I am in a merry-go-round or that I feel dizzy. What do you think fits here?

CHANCE= Opportunity.

I AIN'T MET BEFORE= (colloquial) I haven't met before. If you haven't met this chance before, it means that you never had this chance before. But he is not too sure he has the chance now, because he next says "do you think I really have a chance?". Yes, as I said in the Song Meaning section, he's shy and not very self-confident.

ROUGH DIAMOND= A diamond just as it is dug out of the ground, a stone, before it is cut and shaped into a jewel. We say that somebody is a rough diamond when we think they are impressive, incredible and very valuable. Here, he refers to the girl he's watching and he wants to flirt with, but feels too shy to make a move.

AIN'T GONNA BE NO STORY IN LOVE= (colloquial) There isn't going to be a story in love. A story in love? What the hell is that exactly? Well, anyway, it's clear that he means "this is not going to work, she's not going to be mine". Well, little shy boy, let me tell you this: if you keep thinking like that I think you're going to be damn right about it. Stop whining about it and do something, for God's sake!
What? That wasn't very politically correct? Uhm, yea, maybe you're right. Let's put it this way then:
Come on handsome, you're good and valuable, you shouldn't undervalue your worth. You're precious, the universe loves you, we love you, I love you... (well, maybe I went too far here). Take a deep breath and stand up, you can do it. Go on you brute, drive her crazy with your irresistible sex appeal.
That better?

STARING= Looking directly and fixedly