آہ کو چاہیے اک عمر اثر ہونے تک

 Aah ko chahiye ik umra asar honey tak
kaun jeeta hai teri zulf k sar honey tak..

It takes a lifetime for sigh of pain of love to affect the heart of beloved...

Who lives that long to win your lock of hairs ( which actually means, who lives that long to conquer your love n win it )
 daam-e-har mauj men hai halqah-e-sadkaam nihang
 dekhein kaya guzrey hai qatrey pey guhar honey tak

"daam-e-har mauj" means net of waves... n "halqah-e-sadkaam nihang" means many open jaws of crocodiles... so to sum up the first line, it would mean..

The net of waves got many open jaws of crocodiles

Let us see what the mite brooks till it becomes a pearl.
 aashiqi sabr talab aur tamannaa betaab
 dil ka kaya rang karun khun-e-jigar honey tak

Love seeks patience, but the desire is restless

What color shall I paint the heart with, until it is murdered ?

It is a line with a very deep meaning that is conveyed half way through... The lover is in such a condition, where he needs to wait to get his love, but he is helpless n doesn't know exactly what to do because of the recklessness of his desire to have his beloved...
 hum ney maanaa keh tagaaful na karo gey lekin
 khaak ho jaayen gey hum tum ko khabar honey tak

I agree that you would not neglect, once my heartfelt emotions reach you... but I fear, I will be no more than dust, till you get to know about them...
 partav-e-khurr sey hai shabnam ko fanaa ki taaleem
 main bhi hun ek inaayat ki nazar honey tak

The way dew drops disappear, once sun rays hit them... I, too am here, till I am glanced upon by a favour ( ik inaayat ki nazar hone tak )...
 yak nazar bash nahin fursat-e hasti ghaafil
 garmi-e-bazm hai ik raqs-e-sharar honey tak

Its just a matter of a single favoured glance... All these life routines of joy n sorrows would end at a single spark of light...
 gham-e hasti ka asad kis sey ho juz marg ilaaj
shamma har rang men jalti hai sehar honey tak

Hey "Asad", what else is the way out of all the sufferings of life, but death...

The flame burns in any condition, until the dawn...