Yeah, there is absolutely no doubt that "Lorraine" is about BTTF.
- "she's in love with calvin klein" (obvious)
- "i'm rockin' out but i'm just making noise" (i'm not positive about this one, but i've speculated it's a refference to the infamous Johnny B. Goode performance)
- "Lorraine, my destiny" (a refference to the line george attempts to use on Lorraine, but fouls up)
- "16 years and what do you get?" (this one, if i'm right, it obscure. it's clearly a refference to the song, 16 tons, but i think furthermore, it might be refferencing a part in the movie where the sign outside of the record store is advertising "16 tons" as a recent release.)
- "Party like it's 1955" (because BTTF takes place primarily in 1955)
I may post later with more from other songs if nobody beats me to them.