That song is grating and unlistenable, cheesy lyrics, I don't care if anyone calls it a classic, it's one of the worst songs I've ever heard.
As far as white reggae, yeah it can go bad, like all reggae, but it's certainly not an oxymoron, race has nothing to do with what kind of music appeals to you, The Clash and sublime just to name two have both released excellent reggae tracks.