jayatu jayatu devo devakI-nandano$yaM
		jayatu jayatu kR^iShNo vR^iShNi-vaMsha-pradIpaH
	jayatu jayatu megha-shyAmalaH komalA~ngo
		jayatu jayatu pR^ithvI-bhAra-nAsho mukundaH

May Victory be to this Lord, who is the Son of Devaki
May Victory be to Krishna, the shining light of the lineage of Vrishnis
May Victory be to the One whose skin is blackish like the clouds and who
                  has tender, soft, pleasing features/limbs
May Victory be to Mukunda, who removes the burdens of the earth 
==
jayatu = May victory be to; May all glories be to
ayam = this
devaH = Lord
devakI = Devaki (wife of Vasudeva, Krishna's mother)
nandanaH = son
kR^iShNaH = Lord Krishna
vR^iShNiH = one king in the lineage of the Yadu dynasty;
            Krishna was born in this lineage
vaMsha = dynasty, lineage
pradIpam = shining light
megha-shyAmalaH = One who is blackish/dark-bluish like the clouds
komala-a~ngaH = One who has tender/soft/pleasing limbs
pR^ithvI = earth
bhAra = burden, weight
nAshaH = removal, destruction, elimination
mukundaH = Granter of Mukti/Liberation
==
[Vrishni was himself in the Yadu lineage. He is the son of Maharaja 
 Madhu in the 19th generation of Yadu, son of Yayati. Krishna is called
 Vaarshneya for this reason. All descendents of Vrishni are also Yaadavaas.
 More at http://en.wikipedia.org/wiki/Vrishni]
[shyai, 1 A, shyAyate, to be congealed; dry up, wither;
 shyenaH = white; shyAmaH = black; shyAvaH = brown]