Here is the way I do lyrics in show notes:
I turn the page (so to speak) with state changes. I copy and paste lyrics directly off the internet and correct if necessary. I change color with each state to verify the change when I hit my foot switch. I usually color the states in the left hand window the same colors. Very easy to see and work with.
You can add chord changes as well… Anything you want.
You could also add a mini monitor attached to your laptop as well if so needed.
Torsten’s Live Prompter is a jewel, and well worth a good look.