The speaker is trying to rest after a feverish dream, but the mind won't settle. Their thoughts are "colorblind," drained of brightness and stuck in dirt, dusk, and black night. That's a good picture of numbness or depression: everything looks the same shade of dark.
The dream setting is a carousel, which should be playful but here feels like a trap. It goes round and round, and "heartache bleeds silver," a strange, cold image for pain. The speaker warns their horses of regret, as if the ride is carrying them toward something they already fear.
Then comes a small spark. Asking to "slip into the red" suggests a longing for color, passion, or any real emotion. For a moment the speaker says, "Finally, i feel again." But the closing "...again?" undercuts it. The poem leaves us uneasy and unsure whether this feeling is real relief or just another turn of the dream. The mood is hazy, weary, and quietly haunted.