At the time, it was very innocent, no one was thinking of any bad connotations. It was a joke. Unfortunately, nowadays we hear a lot of bad things happening on the news and naturally we want to protect our kids.
But personally, I don't think kids take lyrics that seriously. We treat kids like they're so fragile and can't take anything.
There are definitely instances where kid's entertainment needs to be monitored. But sometimes, we are a little paranoid.