I ran across the strangest post from 1996 on some bulletin board with the thread title "Rock Stars Who Were Once SciFi Fans".
It contends that The Fixx were Doctor Who fans who wrote "Saved By Zero" as a tribute to the year Tom Baker regenerated into Peter Davison. I do remember that a 'zero room' in the tardus was used for regeneration. (Why do I remember that?!) This must be the funniest misinterpretation of the song yet!

Here is the link

I think it is well accepted that the song is about the value of minimalism but I've heard so many theories over the years I just had to add the above one to the list:

1) An ode to minimalism
2) A criticism against Thatcher gov't for launching the '82 Falklands war
3) A diatribe against religion (as in nothing/zero is gonna be there to 'save' you)
4) A drug song: take a closeup look at the sharp end of a syringe to see the tiny zero
5) a tribute to the year Tom Baker regenerated into Peter Davison on Doctor Who

Please let it be #1