GR translation: working off whiteman’s penance on his sin

[Mike Jing]

V688.6-19, P701.27-40   Well there’s one place where Shit ‘n’ Shinola do
come together, and that’s in the men’s toilet at the Roseland Ballroom, the
place Slothrop departed from on his trip down the toilet, as revealed in
the St. Veronica Papers (preserved, mysteriously, from that hospital’s
great holocaust). Shit, now, is the color white folks are afraid of. Shit
is the presence of death, not some abstract-arty character with a scythe
but the stiff and rotting corpse itself inside the whiteman’s warm and
private own asshole, which is getting pretty intimate. That’s what that
white toilet’s for. You see many brown toilets? Nope, toilet’s the color of
gravestones, classical columns of mausoleums, that white porcelain’s the
very emblem of Odorless and Official Death. Shinola shoeshine polish
happens to be the color of Shit. Shoeshine boy Malcolm’s in the toilet
slappin’ on the Shinola, working off whiteman’s penance on his sin of being
born the color of Shit ‘n’ Shinola.

First, I just want to make sure I got the literal meaning right. So the
whitemen have done penance for his (Malcolm’s) sin, and now Malcolm is
paying them back for it.  Is that correct?

Second, it's obviously sarcasm, but what could the whiteman’s penance
possibly be?
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