This question may be either too lame or rare a situation to have answered, but I will try none the less:
My novel is partly based on a song by one of my favorite bands. Anyone who reads my novel and is familiar with the lyrics of the song could easily make the connection. (Both invlove VERY strange events/people so the similarities could never be considered a coincidance) If the book is ever published could this get me into trouble? The band is smaller and I doubt it would ever be noticed, but if it were, could it lead to problems?
What kind of problems?
You mean copyright infringement? No. Just don't use the lyrics verbatim (and even then you've got some wiggle room).
Legal trouble? Is the song about where you hid Jimmy Hoffa's body? Ya, you got trouble then, starting with one of the guys who reads this blog (yo, Gambino!)
Aesthetics? Dunno. Is it a good song? Is it the local equivilent of Louie Louie?
Personal problems? "Honey..why's is the band toilet papering our front yard?"
Odor problems? Look I'm not gonna tell you the song stinks, but some reviewer might notice.
There are all sorts of ways to have problems with novels. Basing it on a song probably isn't in the top five. Even with a bullet.