The proposed translation matches nicely with the German version. In case you're unaware: In Extremo made two original versions.
Thus the author's comments can be resolved by comparing to the German version:
*I think this is a misspelling of 'gaoth' (wind) - This matches the German version.
**It's unclear whether this says that the 'cries of the wind reached out to her lost love', or 'far away he went, her lost love'. Works either way I reckon. - It is actually kind of both. The wind is bringing her bad news of her lover being lost at sea:
It cried in her ears:
"Far away (out at see)
he went (missing)
(your lover)"
The annotations in parenthesis are definitive (i.e. non-speculative) in the German version but hard to translate into English without changing word/line order, because German sentences end on the verb. Translating the German version back to English with no regard for word order:
Far out
there went
your lover missing
Note the passing of time:
Her lover took to the sea with the ship that day.
In the evening she becomes aware of his fate.
Next morning she follows in a boat.
It takes many days for her to find the exact same ship.
The captain confirms that her lover went missing in the storm.
So as a final nitpick:
"Captain, confide in me
Is my love amongst you?"
"The waves struck him overboard,
The wild sea bore him away with her"
is the correct way to set the quotation marks, because she asks the captain and the captain answers.
bramblepicker
*I think this is a misspelling of 'gaoth' (wind)
**It's unclear whether this says that the 'cries of the wind reached out to her lost love', or 'far away he went, her lost love'. Works either way I reckon.