Well darling, the full name of that song is "Sic Transit Gloria...Glory Fades," so I always assumed it meant "glory fades." I've looked up "sic" in a Latin dictionary (I assume it's Latin) and it means "thus," "transit" means "to pass over" and "gloria" is obviously "glory." I suppose "thus to pass over glory" is kind of the same as "glory fades." So, theres my answer.