I'm not going to say you're wrong, but I don't really agree with you. I will agree with you that the lyrics and meaning to this song are more transparent than most...atleast it seems that way.

I think he's just basically talking about the government being hypocritical on many accounts, not just the war.
And when he says "you must have been high!" I think of it as him being sarcastic and saying "you fucked up, you must have been high!" like many people do.
"Eye balls deep in muddy water." I think means they're up to their eyeballs in their own bullshit.
The kangaroo part is referring to kangaroo courts, where the person is already presumed guilty..you can look it up.
You can also look up information about Blake Kettle and what was done to him, but also I think that part also referrs to the pot calling the kettle black.

I'm not sure how the members of Tool think or record so I can't say whether it was made to be a single, but it sure sounds like a single. That's not a bad thing though, the bass and guitar riffs in this song are insane.