The lyrics are in old english so...
I can't tell if they are right or not, by the way here you have the meaning of the weird words:
faucon: falcon
mak: mate, love
bare: bore, carried
purpill: purple (the royal color)
pall: a funeral pall, a cloth spread over a coffin
bede: bed
rede: red
lythe: lieth, lies
wowndes: wounds
bledyng: bleeding
kneleth: kneeleth, kneels
may: maid, maiden
wepeth: weepeth, weeps
stondith: standeth, stands
ston: stone
Corpus Christi: body of Christ (Latin)
wretyn: written