http://en.wikipedia.org/wiki/Black_Sox_Scandal
The Black Sox Scandal was a big deal in the world of baseball back in the day. My rancid stanzas (revolting verses) cause scandals/controversies, akin to this one

This is a pun on the word “sick.” I’m saying I’m past sick, or beyond simply dope. Also, a person who is past sick resides in a hospice, because they’re in terminal condition and could die at any moment

People bowing down to me, admitting that I’m the king, would look a lot like people giving head

I rap so strong that nuclear fission, a process that causes the sort of explosion that plagued Hiroshima in 1945, happens – literally, this means that atoms, the smallest form of matter, crack into pieces

My lyrics are classless and nasty. The concept of necrophilia, especially when children are involved, is pretty classless and nasty, as well

Sort of like these guys: http://en.wikipedia.org/wiki/Mayhem_%28band%29 who were known to burn down churches due to their sacrilegious tendencies

My bars have a sort of “black comedy” or “darkness” to them…they’re as dark as Bruce Wayne’s crime-fighting uniform

I make girls go crazy, just like bath salts make people go crazy
http://www.webmd.com/mental-health/features/bath-salts-drug-dangers

I’m saying I’ve been rapping since I hit puberty

This refers to blunts with cocaine rolled into them in addition to weed. Cocaine –> Coke –> Coca-Cola –> soda