Lauray's poem captures that nervous moment when you catch someone's eye and can't tell what it means. The speaker looks up, meets the other person's gaze, sees a smile, and feels butterflies right away. They smile back, then look away, as if the feeling is too much to hold for long.
The question in the middle, "Does this mean anything?", is the heart of it. The speaker notices the other person glancing outside and trying to hide a grin, and wonders whether that is a sign of shared feelings. But the speaker admits to doing the same thing, so the behavior could mean almost anything.
The ending turns more vulnerable. The speaker says they are "the one who still loves you," which suggests the feeling isn't new and may not be returned. The short, plain lines keep the mood hesitant, hopeful and a little aching, like someone replaying a small moment and hoping it holds an answer.