I think they were making fun of Smoke on the Water by Deep Purple. Apart from the opening riff and reading the lyrics I don't know the tune so much but the lyrics are "Smoke on the Water, Fire in the Sky" which is certainly comparable to "Train on the Water, Boat on the Track."
Possibly, but even if someone stepped forward and said it was a direct influence, it still wouldn't go on this page as a reference but possibly as a note. And right now it's not close enough for anything. --Buckimion (talk) 13:13, March 26, 2014 (UTC)