Those words are OK. The music is from the old 'Rocky Horror' movie, right?
I don't recall any other problem lyrics in the song.
The basic rule for audio (lyrics) is "if you can say the words on NETWORK TV or the public airwaves, then you're OK."**
I know of a couple other comedy AMVs done to that song, and one was pretty good (imho) and the other was mmmmm...okay. It had cruddier video quality, and the examples used weren't really as *funny* as the first, they kinda fell flat.
Anyways go for it - though you might want to track those others down so you can choose newer or more unusual clips than the ones which have already been used. (iirc: Gaury and the lettuce, from Slayers, the dude from Dragon Half, etc.) Two other dinosaur-era songs for a similar theme as yours, which have had AMVs done to them already are Aerosmith's 'Dude Looks Like a Lady,' and I think somebody also tried 'Lola' by the Kinks. (Ugh! 70s!)
**And yes, even this gets stupid and arbitrary. As the late George Carlin said, 'You can prick your finger, but you can't finger your pr--k.' You can say 'tit' if you're talking about the bird kind. You can even have a cute pair of them, as long as they are perched on a branch or something.
Sometimes a non-provocative word that sounds LIKE a nasty can be substituted and people who get upset and call in to complain can then get lampooned BIG time.
Tom Leykis had a show where he said he was going to MASTICATE a banana, and Rush Limbaugh had a show where he was complaining about people, especially women, who FARD while driving.
Lekyis proceeded to CHEW the on banana, and FARD means 'to apply makeup.'
Hours of fun.